Chinese e-commerce giants Alibaba and JD.com noted strong sales in their 618 shopping festival with government subsidy. Positive outlook on Chinese stocks.

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ADRs of Alibaba (NYSE:BABA) and JD.com (NASDAQ:JD) climbed sharply on Wednesday, as upbeat preliminary results from China’s annual 618 shopping festival reassured investors about consumer demand.

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Apple, Xiaomi, Huawei, Midea and Haier each rang up sales of over US$13.9 billion on the Alibaba and JD.com shopping ...

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