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China factory data steers Singapore shares higher; Malaysia stocks little changed

SINGAPORE (Nikkei Markets) -- Singapore shares rose Wednesday after better-than-expected factory activity data from China allayed concerns about a slowdown in Asia's largest economy. Malaysian shares were little changed.

China's official manufacturing Purchasing Managers' Index for May came in steady at 51.2, ahead of the 51 print economists polled by Reuters were expecting. Official services PMI rose to 54.5 this month from 54 in April. The numbers follow softer-than-expected readings for April. China is Singapore's largest trading partner.

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