HONG KONG (Nikkei Markets) -- Hong Kong shares fell on Monday, led by losses in financial stocks after China's central bank governor flagged concerns about high debt levels in the nation's financial system.
The Hang Seng Index had shed 0.6% to 28,436.67 by midday, after falling as much as 1.6% earlier on Monday. Cathay Pacific Airways slid 1.5% to 13 Hong Kong dollars ($1.67). Kingboard Chemical Holdings said the company and its units agreed to sell their 9.61% stake in Cathay Pacific to Qatar Airways for HK$5.16 billion ($661 million) in cash. The sale price of HK$13.65 apiece is a 3.4% premium to Cathay Pacific's closing price on Friday. Kingboard Chemical was up 0.7%, while Kingboard Laminates Holdings, one of its units that also sold its stake in the airline, added 0.9%.
