Asian markets end in red on Monday

Asian equity markets ended in red on Monday after Chinese factory data disappointed investors and China's central bank set the reference rate for Yuan at a more than 4-1/2-year low. Reports showed that the Caixin/Markit purchasing managers' index (PMI) slipped to 48.2 in December from 48.6 the previous month, marking the 10th consecutive month of shrinking factory activity in the sector, fueling fresh concerns over the health of the world's second-largest economy. The geopolitical situation in the Middle East is also a point of concern for market watchers. Japanese shares tumbled to a 2-1/2 month low after weak China factory activity surveys and year-end losses on Wall Street discouraged investors on the first trading day of 2016.