Japan's factory activity shrank at a slower pace in December as declines in production and new orders eased, a private-sector survey showed on Monday, edging closer to stabilisation after recent falls.

A record 3.4 million young Chinese flocked to the civil service exam this year, lured by the prospect of lifetime job security and perks including subsidised housing as an economic slowdown batters the private sector and youth unemployment remains high.

China's factory activity likely expanded for a third straight month in December, offering a glimmer of optimism to officials trying to steady the world's No. 2 economy as they brace for further U.S. trade tariffs under a second Trump administration.

The Chinese government urged local officials to provide more financial relief or step up one-time allowances to people in need ahead of major holidays over the next month, as China's economic difficulties are set to extend into 2025.

Asian shares made a muted start to the week on Monday as high Treasury yields challenged rich Wall Street equity valuations while underpinning the U.S. dollar near multi-month peaks.

Oil prices were broadly steady on Monday in thin holiday trade at the end of the year, as traders awaited more Chinese and U.S. economic data later this week to assess growth in the world's two largest oil consumers.