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Alibaba expects weakest year since N.Y. listing

E-commerce giant's shares down 9% in U.S. after net income plunges 87%

Chinese e-commerce giant Alibaba is facing increasing pressure from rivals such as Pinduoduo and, as well as live-streaming platform Douyin.   © AP

HONG KONG -- Alibaba Group Holding warned of slower revenue growth in the quarters ahead on Thursday after the e-commerce giant posted a major fall in net income for the quarter ended in September.

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