The sales of home appliances in stock of BABA-W (09988.HK) -2.600 (-2.871%) Short selling $859.66M; Ratio 14.402% (BABA.US) 's e-commerce platform, Tmall, for “Double 11” started at 8pm on 14 October. Government subsidies were superimposed on Tmall's “Double 11” discounts for the first time this year, driving home appliance brands to collectively soar. The overall turnover of major appliances in the first hour of sale was 765% higher than that of the pre-sale period of 2023 “Double 11”, according to the data. 471 home appliance brands including TCL and XIAOMI-W (01810.HK) -1.050 (-3.633%) Short selling $1.13B; Ratio 25.977% recorded 1x growth in their turnover in the first 4 hours of sale. Related NewsM Stanley Sees Structural Trend for KINGSOFT (03888.HK)'s Holdco Discount NarrowingShanghai, Shandong, Guangdong, Zhejiang and Sichuan became the top five provinces and cities in terms of the amount of Tmall's home appliance trade-in orders.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-14 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)