Manufacturing activity in parts of Asia sputtered in October, data showed, reflecting strains on the region's export-dependent economy from Europe's debt crisis and efforts to cool inflation that has plagued several countries this year.

A slowdown in Asia's economy could prompt more countries to reverse, at least partly, some of the monetary tightening taken over the past few years to clamp down on price pressures.

Australia's central bank Tuesday was the latest in the region to ease policy, following Indonesia, Pakistan and Singapore, amid heightened global growth concerns.