i am guy johnson. i am francine lacqua. alibaba breaks another record. china s e-commerce giant drew record sales on singles day, the world s biggest shopping event. it was $5.9 billion in last gotten in 14was hours. ryan chilcote has the details. this year will see alibaba takes is largest ipo and now it really going to make it clear what singles day can deliver for it. alibaba s master plan to make even more money out of ingle s is to take a global. the most interesting things. aliehave alley express xpress and another website that operate outside of china. press is the biggest in russia and brazil. the idea is to get those websites into markets around the pe us into this buying frenzy which is singles day, also called double 11. the problem is when they get into markets like the united statess where you have amazon and ebay are already entrenched and it was a survey done that showed despite all of the attention that alibaba s ipo got , only two out of three shopper
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Rahul Chadha says: "In broad consumption space, things are looking soft. In the last three-six months, we have seen all the tightness happening on the unsecured lending also. So, we will see some pressure. But within a long structural cycle, there will be mini cycles which will give good entry points for long-term investors. We want the dips and some bit of a softness so that valuations correct and you can deploy long-term money."
“Some of the financial, capex related themes, industrials and real estate, will provide good entry points. But I would rather say that rather than jump and buy now, over the next three-four months, one will get entry points because globally the backdrop does not look very strong. 5-10% dip in some of these stocks would be good long-term opportunities.”
The Hindu accounting year began with an upgrade from global brokerage Goldman Sachs which said India is expected to see “the best structural growth prospects in the region” with mid-teens earnings growth over the next two years.