Asian markets ended lower Monday with sentiment hit by a slowdown in Chinese manufacturing.
HSBC's monthly survey showed China's manufacturing sector slowed to a three-month low to 50.5 in December, down from a final reading of 50.8 in November.
In Japan, data showed business sentiment was buoyant with manufacturers at their most upbeat in six years according to the Bank of Japan's quarterly tankan survey.
Stocks on the Move
Softbank Corp. fell 3.2% after The Wall Street Journal reported that the company's North American unit – Sprint - is considering a takeover of its smaller rival T-Mobile US with a bid potentially due in the first half of 2014.
Auto stocks were lower with exporter Mazda leading losses for the sector, down 3.1% while Nissan, Honda, and Mitsubishi all fell over 2% each. Toyota was down 1.9%.
Nippon Telegraph and Telephone Corp. climbed 3.2% following the government's decision last week to sell a part of its stake in the company.
In Hong Kong, HSBC was down a percent while ICBC fell 1.7%.
Jiangxi Copper melted 1%. Its mainland-listed shares dropped 2.2%. Aluminum Corp. of China fell 1.5% in Hong Kong while on the mainland, shares shed 2.6%.
Jindal Steel was the top loser on the Sensex, down 3%, followed by Sun Pharma, and Airtel, down 2.5% and 2.2% each, respectively. RIL also dropped 2.2% while M&M fell 2.1%.
Hindalco and Tata Steel weakened 1.8% and 1.5% each, respectively.
In Sydney, index leader BHP Billiton fell half a percent while Woodside Petroleum slipped 1.4%. QBE Insurance fell back into the red, down 2.3%.