Asian Markets: Major indexes decline


Shares in Asia closed lower Monday. The Hang Seng Index ended the day down 0.9 percent to close at 21,299, and the Shanghai Composite Index shed 0.6 percent, ending the day at 2,894. Japan's stock market was closed for the day in celebration of Health and Sports Day.

In Hong Kong, shares in land developers fell after news spread that the number of loans granted by large Chinese banks had dropped for the month of September. Sinolink Worldwide Holdings Ltd. (SNLKF) plunged 17.2 percent, New World China Land Ltd. (NWRDF) tumbled 7.3 percent and China Overseas Land & Investment Ltd. (CAOVF) fell 1.4 percent. Even Country Garden Holdings Co. (CTRYY), which had a 63 percent rise in sales over last week's Golden Week, according to Bloomberg, suffered a loss of 0.7 percent today. Country Garden is owned by Yang Huiyan, who Forbes identifies as China's richest woman.