Markets in Hong Kong and Shanghai sank as China failed to make a highly anticipated cut in banks' reserve requirement ratios. Chinese insurers, brokerages and banks all suffered.
Hong Kong blue chips opened higher on speculation there would be progress in Greek debt negotiations and broke through the 21,000 resistance level in the afternoon following a rally in Shanghai.
Hong Kong's Hang Seng Index opened 100 points higher, but worries over possible fund raising by Chinese banks helped drive the index sharply lower in the late afternoon.
Hong Kong surged in early trading in line with gains in the U.S. but retreated sharply after China announced it would continue its tightening policies in the property sector.
Hong Kong fell on weak volume after the U.S. market reversed early gains when the Federal Reserve Board signaled it would not take measures to stimulate the U.S. economy.
Hong Kong opened slightly lower after a flat performance by stocks in the U.S. and traded in a narrow range to close marginally higher in reduced turnover.
Hong Kong opened lower following weakness in European and U.S. markets Friday and sank almost 200 points at one time, but a rebound in Mainland stocks helped erase some losses.
China stocks rebounded after bonds issued by debt-strapped Spain and Mainland markets rose sharply. Late profit-taking trimmed some gains in continued sluggish trading.
Hong Kong opened lower, and losses accelerated in the afternoon due to weakness in Mainland and European markets. Very slow turnover reflected investor caution.