Most of the responses from manufacturers also preceded the Brexit vote, suggesting July could be even tougher.
Manufacturers continued to cut jobs and at a faster pace, with the employment sub-index falling to 47.9, compared to 48.2 in May.
Rice said policy makers need to stand ready to act, if the impact of financial market turbulence and higher uncertainty threaten to materially weaken the global outlook.
Japan's Nikkei rose 0.8 per cent after the yen gave back more territory seen during flight-to-quality moves earlier in the week. South Korea's Kospi added 0.3 per cent.
The Prime Minister said the UK greatly valued the investment of Japanese businesses into the UK.
A week after Britain voted to leave the European Union, the referendum has left dark clouds hanging over the business in Selkirk.
The pan-European STOXX 600 index and the similar FTSEurofirst 300 index both fell by 0.6 per cent.
The dollar index, edged up 0.1 per cent to 95.836 , on track for a monthly loss of 0.1 per cent.
As Brexit spooked global markets and pushed the pound to multi-year lows, other Singaporean banks were also advising clients about risks like currency losses.
The results of the Britain referendum carved an exit for Britain from the European Union, and EU leaders are now trying to chart a path forward.
The drop underscores expectations of further job cuts in a financial industry already reeling from declining revenues, and the impact of Brexit.
Britain is an important trade partner for Germany and changes in the economic relationship between the two countries will have repercussions for Germany.
The European Central Bank is in no rush to ease monetary policy in response to Britain's referendum, taking comfort in a calmer-than-feared market reaction, bank officials said.
The dollar index edged down 0.1 percent to 95.642, on track for a monthly loss of 0.2 percent.
Industrial output in Asia's fourth-largest economy rose a seasonally adjusted 2.5 percent in May from April, beating a 0.3 percent rise projected.
Wall Street's rebound in the past two days has coincided with a bounce in oil prices, which rose on Wednesday after a larger-than-expected drawdown in U.S. crude inventories.
Japan's Nikkei climbed 1.1 per cent, while Australian stocks added 1 per cent.
Analysts said traders took some profits on short bets against sterling and the euro in the wake of the British referendum.
Fears of Brexit's impact on global economic growth as well as expectations of more stimulus from the Bank of Japan also underpinned demand at an auction of two-year JGBs.
The market upheaval and economic uncertainty triggered by Britons' vote last Thursday to leave the European Union has forced policymakers to shelve disposal plans until 2017 says sources.
Japanese officials have threatened to intervene if they see yen rises as excessive, though market participants doubt Tokyo will actually step in, given strong opposition from Washington.
Standard & Poor's stripped Britain of its last remaining top-notch credit rating, dropping it by two grades from "AAA" to "AA" and warning more downgrades could follow.
In a statement, issued after the conclusion of 11th review of Pakistan's economic performance under a three-year program, the IMF said the decision enables the immediate disbursement of about USD 501 million to Pakistan.
Sentiment remained weak, with a political crisis gripping Britain and no clarity about when the world's fifth-largest economy would leave the EU or on what terms.
While executives at Asian automakers with factories in Britain have told Reuters they may slow investment in Britain or even freeze plans following the EU membership vote, analysts said the yen's appreciation would have a bigger immediate impact on the industry.
Crude oil prices have fallen further on June 27, following June 24 when $21. tn wiped off valuations and the British pound plunged to 31-year lows against the dollar.
It is the largest fall since a surprise devaluation in 2015, when it guided the normally stable yuan down nearly five per cent over a week, rattling global investors.
The dollar fell 0.4 per cent against the safe-haven yen, while the British pound fell 2.4 per cent to $1.3388, still some distance from the June 24 31-year low of $1.3228.
Nakaso said the BOJ remained in close contact with other central banks to ensure global financial markets had ample liquidity.
The Nikkei rose 1.6 percent to 15,189.21 in midmorning trade, after diving 7.9 percent on Friday in the wake of Britain's historic decision.
Global markets skidded following the unexpected result from the June 23 referendum, in which Britons voted to withdraw from the EU by a 52 per cent to 48 per cent margin.
Asian markets, the first to react to the shocks of early vote-counts that pointed to a Brexit on Friday, ultimately outperformed the rest of the world.
At one stage, investment companies fell 8.0 per cent and real estate dropped 5.0 per cent.
Even with a timetable of at least two years for Britain to formally exit the EU - US banks appeared to be moving quickly to respond to the Brexit decision.
Mainland European equity markets took the brunt of selling as investors feared the vote could destabilize the 28-member bloc by prompting more referendums.
Friday's 3.6 percent slump erased the S&P 500's gains for 2016.