(Bloomberg) — Chinese stocks were among the hardest hit across broadly lower equity markets in Asia on Monday in a further sign of cautious sentiment. Treasuries crept lower and oil gained for a second day.
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Equity benchmarks in mainland China and Hong Kong fell with the Hang Seng index tumbling as much as 1.4%. A Bloomberg Intelligence index of Chinese property developers dropped as much as 6%, heading for its worst session in nine months.
The decline for Chinese developers follows news on Friday that China Evergrande Group had canceled a creditor meeting slated to begin Monday. Fresh strains for developers appeared to overcome pockets of optimism Friday, when an index of US-listed Chinese companies was bolstered by news Washington and Beijing were forming working groups to discuss economic and financial issues.
Shares also dropped in Australia and South Korea….
