UPDATE 2-Alibaba Singles' Day sales hit $23 bln in first nine hours

* Alibaba event is akin to Black Friday, Cyber Monday in U.S. HANGZHOU, China, Nov 11 (Reuters) – Chinese e-commerce giant Alibaba Group Holding Inc on Monday said sales for its annual Singles’ Day shopping blitz hit 158.31 billion yuan ($22.63 billion) in its first nine hours, up 25% from 126.72 billion yuan at the same point last year. Akin to Black Friday and Cyber Monday in the United States, Singles’ Day has been promoted as a shopping fest by Alibaba Chairman and Chief Executive Daniel Zhang since 2009, growing rapidly to become the world’s biggest online sales …read more

Source:: Yahoo Finance