Hong Kong stocks fell on Monday, largely in line with other Asian markets, as investors pondered the implications of the US Federal Reserve's surprise hawkish shift last week.

** At the close of trade, the Hang Seng index was down 312.27 points, or 1.08%, at 28,489.00. The Hang Seng China Enterprises index fell 0.93% to 10,547.86.

** The sub-index of the Hang Seng tracking energy shares dropped 0.9%, the IT sector slipped 1.2%, the financial sector ended 1.89% lower and the property sector fell 1.16%.

** The top gainer on the Hang Seng was AAC Technologies Holdings Inc, which gained 5.15%, while the biggest loser was Haidilao International Holding Ltd, which fell 5.06%.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.07%, while Japan's Nikkei index closed down 3.29%.

** US St. Louis Federal Reserve President James Bullard said on Friday that the US central bank's shift towards a faster tightening of monetary policy was a "natural" response to economic growth and particularly inflation moving quicker than expected as the country reopens from the COVID-19 pandemic.

** China kept its benchmark lending rate for corporate and household loans unchanged for the 14th straight month at its June fixing on Monday, in line with market expectations.

** The Financial News, backed by the Peoples Bank of China (PBOC), on Sunday advised against speculating about liquidity tightening and policy direction, saying such action can mislead and roil markets.

** China's main Shanghai Composite index closed up 0.12% at 3,529.18 points, while the blue-chip CSI300 index ended down 0.24%.

** The yuan was quoted at 6.468 per US dollar at 08:10, 0.22% weaker than the previous close of 6.4537.

** At close, China's A-shares were trading at a premium of 38.11% over Hong Kong-listed H-shares.