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China bounces back

CHINA'S manufacturing expanded for the first time in 13 months in November.

This is a further sign the world's second largest economy is recovering from its deepest slump since the 2008 global crisis. World stocks and oil prices rose on the improving data.

HSBC Corp said that its monthly Purchasing Managers' Index improved to 50.4 for November on a 100-point scale on which numbers over 50 indicate expansion.

That was a moderate improvement from October's 49.5. It is the first time in 13 months that the reading has been above 50.