Hong Kong’s Hang Seng falls nearly 1%

On Monday, Asian stock markets were divided as investors responded to the release of China’s new benchmark lending rate, while oil prices rose 4%.

The Hang Seng index in Hong Kong, which had risen more than 1% in early trading, lost ground and ended 0.89 percent lower at 21,221.34. Following a turbulent week that saw large gains and losses, the city’s benchmark index finished more than 4% higher last week.

According to exchange announcements, trading in China Evergrande’s Hong Kong-listed shares, as well as its property services and new energy vehicle units, was halted on Monday. The trade suspension, according to Evergrande, was caused by the impending release of an announcement containing inside knowledge.

Meanwhile, Rusal’s Hong Kong-listed shares fell by 5.4 percent. The company said Monday it was assessing the impact of an Australian government restriction on alumina and aluminium ores exports to Russia, which was announced on Sunday.

Mainland Chinese stocks, on the other hand, ended the day in the black. The Shanghai composite increased by 0.04% to 3,253.69, while the Shenzhen component increased by 0.414 percent to 12,379.64.

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