Asian stocks slumped on the first trading day of September, with Japan's Nikkei 225 index chalking up a near 4 percent loss, after surveys of China's mammoth manufacturing sector showed a further loss of momentum in the world's second-biggest economy.
China's official manufacturing purchasing managers' index (PMI) edged down to 49.7 in August from 50 in July, just below the 50-mark that separates expansion from contraction. Separately, the final Caixin/Markit manufacturing purchasing managers' index (PMI) came in at 47.3 in August, above a preliminary reading of 47.1 but down from 47.8 in July.
"The data is hardly new. China's economic data have been weak for a long time," said Pruksa Iamthongthong, investment manager at Aberdeen Asset Management, who is underweight Chinese equities.
"We do see a fair bit of bloodbath in other sectors and across the market", she told CNBC's "Street Signs Asia" on Tuesday.
Overnight, U.S. equity markets ended in the red to chalk up their worst month since 2012. The Nasdaq Composite closed down 1.07 percent, while the Dow Jones Industrial Average and S&P 500 dropped 0.69 and 0.84 percent, respectively.
In early Asian trade on Tuesday, S&P futures eased 1.1 percent while Dow futures fell 190 points.