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Asia Falls After UBS Buys Credit Suisse

Asia-Pacific markets largely fell on Monday after UBS agreed to buy its banking rival Credit Suisse in a $3.25-billion takeover over the weekend.

The Nikkei 225 in Japan dropped 388.12 points, or 1.4%, to 26,945.67.

In Hong Kong, the Hang Seng Index dumped 517.88 points, or 2.7%, to 19,000.71, dragged down by health-care stocks.

The largest loser on the HSI was HSBC, which slid 6.51%. Other notable names that led the top losers were hotpot chain Haidilao, which fell 6%, as well as pharmaceutical company Hansoh Pharmaceutical.


In China, the CSI 300 removed 19.74 points, or 0.5%, to 3,939.08.

This comes after China left its one-year loan prime rate unchanged at 3.65%, and five-year loan prime rate unchanged at 4.3%.

In other markets

In Singapore, the Straits Times erased 43.52 points, or 1.4%, to 3,139.76.

In Taiwan, the Taiex lost 32.99 points, or 0.2%, to 15,419.97.

In Korea, the Kospi fell 16.49 points, or 0.7%, to 2,379.20.

In New Zealand, the NZX 50 retreated 160.86 points, or 1.4%, to 11,564.75.

In Australia, the ASX 200 lost 96.29 points, or 1.4%, to 6,898.51.