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Melco drives slump on manufacturing data

from Bloomberg

Chinese stocks listed in the U.S. tumbled to the lowest in three weeks, led by Melco Crown Entertainment Ltd., and China Unicom Hong Kong Ltd., as a report showed manufacturing in the world's second-largest economy contracted for the first time in seven months. The Bloomberg China-U.S. Equity Index of the most-traded Chinese stocks in the U.S. slid 1.3 percent to 92.64 in New York, the lowest since May 3. Casino operator Melco Crown declined to a one-month low and China Unicom, the nation's second-largest mobile-phone company, sank the most since January. more

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