Hong Kong stocks decline by 36%

Hong Kong Stock Exchange (HSE) fell on Monday by 36 per cent, leading some worries of global investor sentiment toward China’s economy, Bloomberg said on Monday.

The Hang Seng China Enterprises Index decreased 2.4 per cent, inching closer to a level last seen almost two decades ago, while the onshore benchmark CSI 300 Index finished 1.6 per cent lower.

The biggest drags on Monday included Chinese tech behemoths Meituan and Tencent Holdings Ltd., as well as electric vehicle makers Li Auto Inc. and Chinese automaker BYD Co.

This decline after China’s commercial lenders kept their benchmark lending rates unchanged, a move that follows the central bank’s recent decision to maintain borrowing costs but may disappoint investors hoping for more aggressive stimulus.