Asian stocks flat amid China growth worries

<p>Asian stocks remained muted as China’s economy showed signs of a slowdown.</p>

Asian stocks remained flat today (November 3rd) as China’s manufacturing and services industries showed signs of a slowdown.

China’s government’s non-manufacturing Purchasing Managers’ Index fell to 53.8 last month from 54 in September. In addition, the economy grew 7.3 per cent in the third quarter, the weakest pace in more than five years.

“A weaker than expected reading for Chinese manufacturing was a timely reminder that all is still not well," Jonathan Sudaria, a trader at London Capital Group Holdings Plc, told Bloomberg. "The brewing stormcloud of slowing global growth still hangs over markets."

China's benchmark Shanghai Composite Index gained 0.1 per cent to 2,423.27 while Hong Kong's Hang Seng declined 0.1 per cent to 23,973.99 and Seoul shed 0.4 per cent to 1,955.85. Tokyo was closed for a holiday.

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