China: And Australian shares look set to open sharply lower after international markets tumbled following China manufacturing data which gave further indications that the world second-largest economy is slowing, according to Nine News Australia. At 0645 AEST on Wednesday, the September share price index futures contract was down 67 points at 4,991. At 0630 AEST on Wednesday, the currency was trading at 70.24 US cents, down from 71.08 cents on Tuesday. SHANGHAI - China is urging listed companies to merge and restructure, according to an official statement, as the government seeks to avert a stock rout and encourage investors to return to the market. NEW YORK - World oil prices have tumbled as poor manufacturing data in China, the world largest energy consumer, hammered the outlook for demand and shook market confidence. BEIJING - Further signs of slowing in the world second-biggest economy has sent shudders through global markets, adding to the worldwide sense of crisis over China financial management.
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