China's stock market fell to a three-month low on Monday due to a mixed bag of factors ranging from new worries about the eurozone and the changing of the guard at the China Securities Regulatory Commission.
HSBC Holdings PLC expects China to push harder this year for the yuan's convertibility and trading freedom as part of the nation's goal to make the yuan a global reserve currency.
Hong Kong stocks closed down 449.75 points, or 2 percent, at 22,083.36 on Monday. The benchmark Hang Seng Index traded between 22,185.32 and 21, 997.72. Turnover totaled HK$78.23 billion (about $10.08 billion), compared with Friday's HK$102.78 billion.
China's stock index futures closed lower on Monday, with the contract for April, the most actively traded, down 1.27 percent from the previous trading day to 2,510.8 points.
Chinese shares closed lower Monday, with the benchmark Shanghai Composite Index down 1.68 percent, or 38.38 points, to end at 2,240.02.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, shed 0.21 percent, or 1.79 points, to close at 852.12 points on Monday.
Chinese importers have used up the import quota ofNew Zealanddairy products for 2013, and further imports will be levied in accordance with the Most Favored Nations (MFN) tax rate.
Zhou Kang relied solely on his Chinese UnionPay card to meet all bills during a seven-day trip to South Korea over the Spring Festival last month.
The China Securities Regulatory Commission proposed lowering the requirements for applicants for the Qualified Domestic Institutional Investor program, the CSRC said on its website.
Hong Kong stocks closed down 86.07 points, or 0.38 percent, at 22,533.11 on Friday. The benchmark Hang Seng Index traded between 22,494.04 and 22,799.67. Turnover totaled HK$102.78 billion (about $13.24 billion).
China's stock index futures closed lower on Friday, with the contract for March, the most actively traded, up 1.65 percent from the previous trading day to 2,568.6 points.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.41 percent, or 11.87 points, to close at 853.91 points on Friday.