Asia trades lower, Hang Seng leads losses

Monday, 13. September 2021 07:24

Shares on the major stock market indexes in Asia traded with losses on Monday, with Hong Kong's Hang Seng dropping over 2% amid reports of tougher regulatory stance being planned for Alibaba Group Holding Limited's affiliate Ant Group and its loan business. Alibaba itself tumbled over 6% after the news that the Chinese government plans to force Alipay to create a separate loans app.

On the data front, Japan's producer price index came in below the analysts' expectation in August, growing 5.5% on an annual basis.

In mainland China, the Shanghai Composite lost 0.11% at 7:06 am CET and the Shenzhen Composite slid 0.4% at the same time. Hong Kong's Hang Seng plunged 2.26% at 7:22 am CET, with South Korea's Kospi and Japan's Nikkei 225 decreasing by 0.32% and 0.26%, respectfully, at the same time. The dollar traded 0.09% higher against the yen, going for ¥110.0035 at 7:23 am CET, as the Australian S&P/ASX 200 stood flat.

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Breaking the News / BU