Stock indices of the countries of the Asia-Pacific region fell on Monday following the US stock market, which closed in the red last Friday for the third week in a row.
In addition, investors continued to monitor the situation with the spread of coronavirus in the world. Several countries are seeing an increase in new infections.
Japan's stock exchanges were closed on Monday for a holiday (Honoring the Elderly Day).
China's Shanghai Composite Index dropped 0.63%, while Hong Kong's Hang Seng Index dropped 2.06%.
The People's Bank of China (PBOC) kept its base annual interest rate (loan prime rate, LPR) at 3.85% for the fifth month in a row. The rate on five-year loans was kept at 4.65%, the NBK said on Monday.
Consumer prices in Hong Kong fell 0.4% year-on-year in August after falling 2.3% in July, according to data from the Hong Kong Statistics Office.
Meanwhile, US President Donald Trump has agreed to a deal that would bring the popular short video sharing service TikTok under the control of American investors, including Oracle Corp (NYSE: ORCL). and Walmart (NYSE: WMT) Inc.
HSBC and Standard Chartered (LON: STAN) dropped 5.3% and 6.2% respectively in Hong Kong. At the same time, HSBC shares dropped below the minimum mark since March 2009 – to 29.3 Hong Kong dollars per share, Bloomberg writes.
HSBC and Standard Chartered are featured in BuzzFeed's publication on money laundering involving a number of major banks. According to the publication, Standard Chartered, in particular, processed transfers of Al Zarooni Exchange, which was later accused of money laundering in the interests of the Taliban.
The HSBC Hong Kong division, in turn, allowed the WCM777 financial pyramid to withdraw more than $ 15 million, writes BuzzFeed. The authorities accused WCM777 of stealing at least $ 80 million from investors.
The South Korean Kospi Index is down 0.95%.
Since the beginning of September, South Korea's exports have grown 3.6% on an annualized basis, the Financial Times reports, citing the country's customs data. At the same time, semiconductor exports jumped 25%. However, after adjusting for the number of business days and seasonal adjustments, the figure was down 5.4% from the previous month, and its decline was observed for the first time after rising for three months, analysts at Goldman Sachs say.
Capitalization of one of the world's largest chip makers Samsung (KS: 005930) Electronics Co. decreased by 0.2%. The shares of the automaker Kia Motors Corp. rose 1.4%, another industry representative, Hyundai Motor Co. Ltd. – by 2.2%.
The Australian S & P / ASX 200 Index dropped 0.71%.
The world's largest mining companies BHP Group and Rio Tinto (LON: RIO) lost 1.2% in value. National Australia Bank shares fell 1.5%, Commonwealth Bank of Australia – 1.4%.