On Monday, Asian equities edged worse. The stocks were hurt by fear that US Federal Reserve would start reducing its massive financial stimulus in September. Indications of China's economic slowdown were considered to be a factor too.

The senior global markets analyst for Sumitomo Mitsui Banking Corporation in Singapore, Satoshi Okagawa, said "I don't think this corrective mode will end immediately."

Okagawa added that investors' worries will increase even more because of Chinese economy's current issues. Last month, China's factory activity touched its lowest in nine months. The second quarter's financial slowdown signs were further reinforced by decrease in new orders even if the producers already made cuts to their costs. The growing speculations on Fed's plan to start tapering its huge bond-buying program also contribute to the problem.

The lowest level of Purchasing Managers' Index was recorded in June. It retreated to 48.2 which is below from May's final reading of 49.2.

Asia-Pacific's index plunged by 7.3% after the first six months.