ADRs of Alibaba (NYSE:BABA) and JD.com (NASDAQ:JD) climbed sharply on Wednesday, as upbeat preliminary results from China’s annual 618 shopping festival reassured investors about consumer demand.

Chinese e-commerce giants Alibaba and JD.com noted strong sales in their 618 shopping festival with government subsidy. Positive outlook on Chinese stocks.

Preliminary data shows Apple, Xiaomi, Huawei, Midea and Haier each rang up sales of over US$13.9 billion on the two shopping ...