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DAX Tumbles On Renewed Trade Concerns

German stocks tumbled on Thursday to extend losses from the previous session, as the arrest of the chief financial officer of Huawei Technologies Co. sparked worries that trade tensions between the U.S and China will not be resolved anytime soon.

China urged Canada to release Meng Wanzhou and said it firmly opposes and strongly protests over such kind of actions, which seriously harm the human rights of the victim.

The benchmark DAX was down 178 points or 1.59 percent at 11,022 in opening deals after losing 1.2 percent the previous day.

In stock-specific action, Bayer lost 2.5 percent despite the company setting itself ambitious growth and margin targets through 2022.

In economic releases, Germany's manufacturing orders increased for a third straight month in October, defying expectations for a decline, preliminary data showed.

Factory orders grew 0.3 percent from September, while economists' had forecast a 0.4 percent fall. September's 0.3 percent gain was revised to a 0.1 percent increase.

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