Hong Kong shares close 1.18pc lower

HONG KONG: Hong Kong shares closed 1.18 percent lower on Monday as lingering eurozone debt fears were compounded by news that North Korean leader Kim Jong-Il had died, stoking geopolitical uncertainty.

The benchmark Hang Seng Index shed 215.18 points to 18,070.21 on turnover of HK$42.38 billion ($5.41 billion).

Chinese shares closed down 0.30 percent, although analysts said the death of Kim seemed to have little effect on the market. The Shanghai Composite Index, which covers both A and B shares, was down 6.60 points at 2,218.24 on turnover of 49.7 billion yuan ($7.9 billion).