Most Asian Stocks Decline as U.S. Manufacturing Shrinks

Most Asian stocks fell after U.S. manufacturing unexpectedly shrank and American lawmakers grappled with new budget proposals. Losses were limited as China’s Shanghai Composite rebounded from the lowest in almost four years. James Hardie Industries SE, the building materials suppliers that counts the U.S. as its biggest market, slid 1.2 percent in Sydney. SJM Holdings Ltd. (880), Asia’s biggest casino company, sank 5.8 percent in Hong Kong as China arrested junket operators. Guangzhou Automobile Group Co., the partner of Toyota Motor Corp. in China, climbed 3.1 percent as sales of Japanese automakers started to recover from the impact of the territorial dispute between the two nations. 

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