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And it's not just retailers that are noticing the boom in sales. Those in the food industry have also been riding on the growing wave of the Christmas spirit.

Analysts surveyed by Dow Jones expected 875,000 new unemployment claims to be filed last week.

Analysts said demand for gold jewelry in China has been driving the global gold industry for long. "Demand for gold jewelry had bottomed out in 2016 after a strong price recovery curbed jewelry spending that year, amid world economic growth challenges and weaker consumer sentiment," said Zhu Yi, senior analyst of metals and mining at Bloomberg Intelligence.

And with five months to go before the presidential election, Trump used the protests to attack his likely opponent, former vice-president Joe Biden.

Analysts said the move will help Meituan to integrate its ride-sharing, food delivery, hotel bookings, travel and entertainment ticketing businesses.