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Alibaba Singles' Day posts record 168b yuan in sales

Annual frenzy sees 39% increase; exceeds Citigroup estimates and defies fears of economic slowdown

Hong Kong

ALIBABA Group Holding Ltd's Singles' Day shopping bonanza generated a record 168.2 billion yuan (S$34.5 billion) in sales, as the company's investment overseas and effort to link traditional retailers with the Internet paid off.

The annual frenzy posted a 39 per cent

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