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Hong Kong, Shanghai: Shares drop as Fed rally vanishes

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[HONG KONG] Hong Kong shares dropped Monday in line with other Asian markets as last week's Fed-sparked rally dissipated.

The Hang Seng Index shed 1.56 per cent, or 368.56 points, to close at 23,317.92.

The benchmark Shanghai Composite Index lost 1.76 per cent, or 53.47 points, to 2,980.43.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, slid 2.07 per cent, or 41.52 points, to 1,966.60.