Asia: Profit taking topples Hang Seng
The Hang Seng settled in the red on Monday amid unease about this week's US third quarter earnings and as profit takers moved in on last week’s gains.Banking shares were mostly higher while commodities fell out of favour. ICBC Bank of China was up 1.4%. China Construction Bank rose 0.5%
PetroChina was down 0.43% while Jiangxi Copper fell 1.7%.
Shares in New World China Land slumped over 7% after it said it plans to raise up to $683m through a rights issue.
The Hang Seng closed down 0.89% or 191 points at 21,308 in Hong Kong.
Japanese markets are closed Monday for a holiday.
Indices
| Index | Value | % Change |
|---|---|---|
| Nikkei 225 | 10,016.39 | +1.87% |
| Hang Seng | 21,299.35 | -0.93% |
| Straits Times | 2,668.28 | +0.59% |
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