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Asian stocks, oil prices retreat on weak Chinese manufacturing data

Activity in China's vast manufacturing sector declined in October 2015 for the third straight month, triggering worries about the nation's economy, a crucial driver of global growthAsian stocks fell on Monday and oil prices dropped as investors weighed fresh data showing China’s slowdown could be deeper than previously thought, while the dollar extended losses against the yen and most emerging currencies. Tokyo led Asian stocks lower after data showed China’s manufacturing activity slowed in October for the third straight month, fuelling worries about its economy which is a crucial driver of global growth. China’s Purchasing Managers’ Index (PMI), tracking activity in the factory and workshop sector, was unchanged from the previous month at 49.8, the state statistics office said Sunday.

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