Hong Kong drops 2% as Asia-Pacific shares mostly fall; BTS' label soars in South Korean market debut

In the broader markets, South Korea’s Kospi slipped 0.81% to close at 2,361.21.

Hong Kong’s Hang Seng index led losses among the region’s major markets as it dropped 2.06% on the day to 24,158.54.

Japan’s Nikkei 225 declined 0.51% to finish its trading day at 23,507.23 while the Topix index shed 0.74% to close at 1,631.79.

Mainland Chinese stocks closed lower, with the Shanghai composite down 0.26% to about 3,332.18 while the Shenzhen component slipped 0.483% to around 13,624.89.

Meanwhile, shares in Australia edged higher on the day, with the SP/ASX 200 gaining 0.5% to 6,210.30.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 1.15%.

In corporate developments, shares of Cathay Pacific in Hong Kong gained 6.05% following reports that the city and Singapore have reached an in-principle agreement establish a bilateral air travel bubble. In Singapore, shares of national carrier Singapore Airlines were 0.29% higher as of about 4:22 p.m. local time.

Overnight stateside, stocks fell for a second day as a stalemate in coronavirus stimulus talks dragged on. The Dow Jones Industrial Average slipped 165.81 points, or 0.6%, to close at 28,514. The SP 500 finished its trading day 0.7% lower at 3,488.67 while the Nasdaq Composite slid 0.8% to close at11,768.73.

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