China's manufacturing PMI falls to 49.3 as demand weakens
Services and construction also slipped into contraction in October, while some technology-linked manufacturers recorded stronger activity.
Vietnam announces electricity price cut and zero gasoline tax
The government says the measures, effective November 1, aim to lower household and business costs and support economic stability.
Vietnam's government said October 31 that it would lower the average retail electricity price by 2% from November 1, when the gasoline special consumption tax would also drop to zero.
Electricity will cost an average of 2,159.9 dong ($0.085) per kilowatt-hour before value-added tax, according to the government. The gasoline tax reduction, from 7%-10%, will last through the end of March.
The government said the changes were designed to reduce household and business expenses, promote social welfare and business activity, and maintain macroeconomic stability.
Vietnam's economic growth goal is above 10%. Meeting that target requires growth exceeding 12.5% in the fourth quarter.