Asia's factory activity stagnates, taking shine off rebound in China

Asia's manufacturing activity stagnated in October as a rebound in China failed to give much of a boost to regional factories, private surveys showed, a discouraging sign for policymakers bracing for a potential escalation of U.S.-China trade tensions. The readings come as the International Monetary Fund (IMF) warned of rising risks to Asia's economic outlook from trade fragmentation, China's property sector woes and the potential for further market turbulence. In a glimmer of hope, however, China's manufacturing activity swung back to growth in October, helped by a slew of stimulus measures rolled out by Beijing to prop up a fragile economy.