Local stocks lose more than 1,000 points
Hong Kong stocks took a battering on Monday, plunging more than 6 percent on fresh concerns about the mainland economy. The Hang Seng Index gave up 1,030 points, or 6.36 percent, to finish at 15,180, a new 13-year low. Turnover stood at HK$161.8 billion. Tech firms were among the hardest hit. Alibaba and Tencent each tumbled 11 percent and JD.com dived 13 percent. HSBC bucked the trend, gaining 1.3 percent. The Shanghai Composite Index fell 2.02 percent to 2,977, while the Shenzhen Composite Index was down 1.76 percent to 1,932. Across the region, the Nikkei in Japan finished 0.31 percent higher, South Korea's Kospi climbed 1.04 percent, shares in Taiwan were up 0.29 percent, and Australia’s S&P/ASX 200 put on 1.54 percent.