Asian shares sag, dollar rises on upbeat U.S. data
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Asian shares sagged on Friday though upbeat signals on China's manufacturing activity limited losses, while the dollar pushed higher after upbeat U.S. data led some investors to price-in a less dovish stance at the U.S. Federal Reserve. China's manufacturing sector grew at the fastest in 18 months in October, with the official Purchasing Managers' Index (PMI) rising to 51.4 last month from September's 51.1, beating economists' consensus forecast of 51.2. The final HSBC/Markit Purchasing Managers' Index (PMI) came in at 50.9, up from 50.2 in September and unchanged from a preliminary flash estimate released last week. MSCI's broadest index of Asia-Pacific shares outside Japan fell about 0.2 percent, while Australian shares (.AXJO) gave up 0.2 percent, but still remained just shy of five-year highs.