China's stocks closed lower Tuesday, with the benchmark Shanghai Composite Index down 1.61 percent, or 46.18 points, to close at 2,820.18.
Hedge funds are wooing institutional investors in China, the world's fastest-growing major economy, as managers struggle to raise assets, according to the industry's largest trade group.
Hong Kong stocks closed up 288. 97 points, or 1.26 percent, at 23,166.22 on Monday.
China's stock index futures closed mixed Monday with the contract for December, the most actively traded, up 0.16 percent from the previous trading day to end at 3,212 points.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, gained 24.09 points, or 2.01 percent, to close at 1,220.11 on Monday.
The Shanghai Stock Exchange (SSE) and the China Securities Index Co Ltd (CSI) on Monday jointly launched the new SSE-380 Index that aims to reflect the performances of high-growth blue-chip stocks on the Shanghai stock market.
China's stocks closed lower Monday, with the benchmark Shanghai Composite Index down 0.19 percent, or 5.34 points, to close at 2,866.36.
China Securities Regulatory Commission (CSRC) is considering launching an international board on the mainland stock exchanges, Shanghai Securities News reported Monday citing the commission's Vice-Chairman Yao Gang.
The value of yuan weakened as the central parity rate of renminbi, or China's currency yuan, was set at 6.6700 per US dollar Monday, compared with Friday's 6.6553, according to the data released by the China Foreign Exchange Trading System.
The Dalian Commodity Exchange, where the world's largest soybean-meal and soybean-oil contracts are traded, will increase futures margins and price limits as part of a wider government crackdown on speculation and food prices.
The Shanghai Stock Exchange (SSE), which marked its 20th anniversary of trading on Friday, is planning to boost the market of Exchange-Traded Funds (ETF), a relatively new breed in China's securities market, to cater for the growing appetite of Chinese investors.
China's stock index futures closed lower Friday with the contract for December, the most actively traded, down 0.58 percent from the previous trading day to end at 3,213.0 points.