Around the World's Markets: Hong Kong

THE HANG SENG index fell 239 points to 9,499.5, as fresh worries about a Chinese yuan devaluation drove interbank interest rates higher.

Banks suffered as the interbank rate rose to 7.52 per cent from 6.77 per cent on Friday, with HSBC Holdings slumping 2.3 per cent and Hang Seng Bank dropping 4.4 per cent. Property stocks also fared badly. However, the China-affiliated "red chip" index ended only 0.45 points off at 687.