Key gauges for manufacturing in Australia and Japan fell while early export orders for South Korea showed a slump in Chinese demand.
Japanese manufacturing activity plunged amid recession risks in the world's third largest economy. The Jibun Bank Japan Manufacturing Purchasing Managers Index registered 47.6 for the sharpest deterioration in conditions in more than seven years. The CBA Flash Composite PMI fell to 48.3 in February from 50.2, the steepest rate of reduction since the series began in May 2016.
Slumping activity will add to pressure on governments and central banks to respond with more support for their economies, while also raising doubts about their capacity to respond.
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