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Shares fell more than 3% in Hong Kong on Monday in thinned trading during the Asian holiday, with other major markets in Tokyo and Shanghai closed.
Other regional benchmarks also fell after Wall Street ended last week with another drop.
Investors are watching to see if the Federal Reserve will take action to deal with the impact of rising prices on businesses and consumers.
Hong Kong real estate companies and banks lost ground amid lingering concerns about the potential spillover effects of Chinese developer Evergrande 3333’s financial woes,
The company was expected to pay no interest as rating companies predict it could default on its debt.
The Hang Seng HSI,
in Hong Kong fell 3.9% and the Australian S & P / ASX 200 XJO,
lost 2.2%. Shares also fell at Singapore STI,
and Indonesia JAKIDX,
Markets were closed in mainland China, South Korea, Japan and Malaysia.
The Fed is due to release its latest update on economic policy and interest rates on Wednesday. The central bank said higher costs for raw materials and consumer goods will always be temporary as the economy recovers, but analysts fear higher prices will persist and hurt corporate results while slashing prices. expenses.
The yield on the 10-year Treasury bill slipped to 1.37% from 1.38% on Friday.
Shares closed lower on Wall Street on Friday, marking a weak end to a checkered week of trading. The S&P 500 SPX index,
lost 0.9% to 4,432.99, for its second consecutive weekly loss. About 80% of the benchmark S&P 500 stocks fell and all sectors except healthcare were in the red.
The Dow Jones Industrial Average DJIA,
fell 0.5% to 34,584.88, and the Nasdaq COMP,
fell 0.9% to 15,043.97
Quadruple witchcraft, the simultaneous expiration of four types of options and futures, has contributed to market volatility. The phenomenon occurs four times a year and forces traders to sort out the details of the contracts they hold. More than 750 billion individual stock options were due to expire on Friday, McKnight said.
In other Monday trading, US benchmark crude oil CLV21,
lost 65 cents to $ 71.32 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, it fell 64 cents to $ 71.97 a barrel.
Brent crude BRNX21,
the norm for international prices, lost 57 cents to $ 74.79 a barrel.
The US dollar USDJPY,
slipped to 109.90 Japanese yen from 109.95 yen.
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