NNA Asia top stories Thursday, Nov. 1

01, Nov. 2018

TOKYO, NNA – The following are the top stories from NNA Asia for Thursday, Nov. 1.

China manufacturing PMI dips lowest in over 2 years to 50.2 in Oct.

TOKYO, NNA – China reported Wednesday the official Manufacturing Purchasing Managers’ Index dipped in October to 50.2, the lowest level in over two years, due to the U.S.- China trade dispute.

The reading was down 0.6 points from September, the second consecutive monthly decline, but it remained above 50, according to the National Bureau of Statistics.

Taiwan Q3 GDP slows to 2.28%, below 3% for 1st time in 5 quarters

TAIPEI, NNA – Taiwan’s real gross domestic product growth slowed to 2.28 percent in the July-September period, due to lower-than-expected private consumption, falling below 3 percent for the first time in five quarters.

Mitsubishi UFJ Trust seals A$4 bil. deal to buy 9 Commonwealth Bank firms

TOKYO, NNA – Mitsubishi UFJ Trust and Bank Corp. will buy nine asset management arms of the Commonwealth Bank of Australia for A$4 billion ($2.8 billion), pursuing its aim to become the largest asset management group in the Asia Pacific region.

The Japanese bank said Wednesday it had sealed the deal to take a 100 percent-stake in the nine major subsidiaries of Colonial First State Group Ltd., a wholly owned arm of Commonwealth.