Hong Kong slides 2% to new 2023 low; Asia markets mixed as China manufacturing contracts

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Hong Kong slides 2% to new 2023 low; Asia markets mixed as China manufacturing contracts
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Asian markets trade mixed as Republican opposition to the debt ceiling deal grows

— CNBC's Brian Evans and Alex Harring contributed to this reportNorth Korea's first attempt at launching a military spy satellite resulted in failure on Wednesday, with South Korea's military picking up wreckage after the carrier rocket crashed into its western waters.

"The carrier rocket 'Chollima-1' fell to the West Sea of Korea after losing thrust due to the abnormal starting of the second-stage engine after the separation of the first stage during the normal flight," it said on the English language version of its website. A weak read in that manufacturing measure "has been a solid precursor to policy easing," Morgan Stanley analysts said in a May 17 report.

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