Comment on Asia stocks down on mixed China data, weak Wall St

Asia stocks down on mixed China data, weak Wall St

TOKYO (AP) — Asian stocks fell Thursday after another slump in oil prices dragged Wall Street lower and China's manufacturing output grew at the slowest pace in five months. HSBC's factory purchasing managers index rose to 50.4 in October from 50.2 the previous month (figures above 50 indicate expansion) but the output sub-index slipped to a five month low. "While the manufacturing sector likely stabilized in October, the economy continues to show signs of insufficient effective demand," HSBC said. The slide in energy prices in the past two weeks has raised doubts about the strength of the global economy but also offers some upside in Asia where many countries are reliant on imported fuel.

 

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