Economics
Asian Stocks Fall as Preliminary China PMI Contracts
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Most Asian stocks fell, with the regional benchmark index retreating from a two-month high, after a private survey showed China’s manufacturing contracting at a faster-than-estimated pace.
PetroChina Co., the country’s No. 1 energy producer, sank 2 percent in Hong Kong. Kao Corp., a maker of household and chemical products, fell 6.2 percent in Tokyo after giving an update on a product recall. LG Innotek Co. and Inventec Corp. led gains among Apple Inc. suppliers in Asia after the iPhone and iPad maker topped analysts’ earnings projections in the third quarter.