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Alibaba sales grow at weakest pace in three years as slowing China bites

The result is likely to add to investor worries as it highlights the mounting pressures facing the e-commerce behemoth

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Jack Ma  |  Asia  |  Iphone

Reuters  |  Shanghai 

E-commerce giant Alibaba Group Holding Ltd's quarterly revenue grew at its weakest pace since 2016, as the impact of a slowing Chinese economy and a crippling Sino-U.S. trade war kept buyers away during its top-sale season. The result is likely to add to investor worries as it highlights the mounting pressures facing the e-commerce behemoth, whose sales are often seen as a yardstick of consumer spending in the world's second-largest economy. Alibaba, the second most valuable public company in Asia after Tencent, posted on Thursday third-quarter revenue of 117.28 billion ...

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First Published: Wed, January 30 2019. 20:13 IST
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