Weaker China factories argue for more policy support as stocks swoon

China's factory activity shrank more than initially estimated in July, contracting the most in two years as new orders fell and dashing hopes that the world's second-largest economy may be steadying, a private survey showed on Monday. The report followed a downbeat official survey on Saturday which showed growth at manufacturing firms unexpectedly stalled, reinforcing views that the struggling economy needs more stimulus even as it faces fresh risks from a stock market slump. Fears of