Hong Kong stocks start week with another sharp drop

Hong Kong suffered more big losses Monday as investors fret that the coronavirus could become a global pandemic, with energy firms and companies linked to tourism among the worst hit.

The Hang Seng Index fell 1.79 percent, or 487.93 points, to close at 26,820.88.

The benchmark Shanghai Composite Index slipped 0.28 percent, or 8.44 points, to 3,031.23 and the Shenzhen Composite Index rose 1.36 percent, or 26.01 points, to 1,933.36. Mainland markets were helped by government pledges of support for businesses and stimulus measures including an interest rate cut.