China's official manufacturing PMI increased to an 18-month high of 51.4 in October from 51.1 in September and surpassed consensus. However, the reading for big companies rose, while that for smaller ones dropped into contraction territory, highlighting the unbalanced nature of China's economy. HSBC's PMI data edged up to 50.9 from 50.2. Readings for South Korea, Indonesia, Vietnam and Taiwan indicated that manufacturing grew in those countries, although India remained in contraction.
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