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Chinese factory activity gauge edges higher

A closely-watched indicator of economic activity in China has shown a slightly better than expected reading for October, in a signal conditions are improving marginally after the country registered its worst quarter of economic growth since the financial crisis.

The HSBC/Markit Flash China Purchasing Managers' Index (PMI) rose slightly in October so far to 50.4 from September's final reading of 50.2.

The October result contrasted with the consensus view of economists that this gauge of manufacturing activity was set to stay at September's level.

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