HONG KONG: Hong Kong stocks closed sharply lower on Monday as banks were hammered by worries over the sector, even as UBS took over troubled Credit Suisse and central banks pledged to provide liquidity to the financial system.

The Hang Seng Index sank 2.65 percent, or 517.88 points, to 19,000.71.

Hong Kong stocks finish sharply higher

The Shanghai Composite Index lost 0.48 percent, or 15.64 points, to 3,234.91, while the Shenzhen Composite Index on China’s second exchange fell 0.32 percent, or 6.54 points, to 2,053.65.