Hong Kong Leads Losses in Asia

Shares in the Asia-Pacific fell on Monday ahead of major central bank meetings this week.

Markets in Japan were closed for holiday.

In Hong Kong, the Hang Seng index dived 195.72 points, or 1%, to 18,565.97.

Later this week, the U.S. Federal Reserve and the Bank of Japan will be announcing their interest rate decisions.

Traders are betting on a 75-basis-point rate hike from the Fed, with the probability standing at 82%.

The Bank of Japan is expected to keep rates on hold at ultra-low levels, analysts predicted in a Reuters poll.

CHINA

In Shanghai, the CSI 300 lost 4.68 points, or 0.1%, to 3,928.

The People’s Bank of China cut its 14-day reverse repo rates.

In other markets

In Singapore, the Straits Times Index ditched 11.98 points, or 0.4%, to 3,256.31.

In Korea, the Kospi index fell 27.12 points, or 1.1%, to 2,355.66.

In Taiwan, the Taiex dropped 136.08 points, or 0.9%, to 14,425.68

In Australia, the ASX 200 faded 19.16 points, or 0.3%, to 6,719.92.

In New Zealand, the NZX lost 48.47 points, or 0.4%, to 11,531.99.