HK Stocks Close With More Losses, HSBC Down Again

Hong Kong shares finished Tuesday with more big losses following a rout in New York and Europe as a spike in infections forces governments to reimpose containment measures.

The Hang Seng Index shed 1 percent, or 233 points, to 23,716.

The top gainer was China Mengniu Dairy Co Ltd, which gained 1.1 percent, while the biggest loser was Geely Automobile Holdings Ltd, which fell 4.4 percent.

HSBC shares fell another 2 percent to close at HK$28.70 following a plunge of five percent on Monday.

It had come under pressure after state media reported that Beijing could punish the lender by adding it to its "unreliable entity list". It was also named in leaked documents as one of the banks that allowed fraudsters to transfer millions of dollars around the world, even though red flags had been raised.

The benchmark Shanghai Composite Index fell 1.3 percent, or 42 points, to 3,274, while the Shenzhen Composite Index on China's second exchange sank 1.1 percent, or 24 points, to 2,184.

Taipei and Jakarta fell at least one percent each, while Seoul tumbled more than two percent. Sydney, Singapore, Manila and Bangkok were also well in the red (AFP, Reuters)