Hong Kong's Hang Seng plunges 3.9% due to Evergrande

Hong Kong's Hang Seng led losses among Asia-Pacific markets in Monday's trading, with shares of Chinese developer Evergrande continuing to decline.

The index was down 3.87% by Monday afternoon, Evergrande shares were down nearly 17%, and the Hang Sing Properties index fell to a 52-week low, according to CN BBC Arabic.

MSCI's index of Asia-Pacific shares outside Japan fell 1.8%.

Evergrand, the second largest real estate company in China and the most indebted in the world, threatens Asian and global financial markets, being affected by its collapse due to a liquidity crisis.

Markets in mainland China, Japan and South Korea are reported to be closed on Mondays for holidays.