Hang Seng closes flat on Monday

Hong Kong's Hang Seng index traded flat on Monday as banks did not allow the index to push higher. Hang Seng was almost unchanged adding only 0.06 points and closing at 20,668.86. Bank of China dropped 1.9%, HSBC Holdings declined 0.4% and Industrial & Commercial Bank of China fell 1%. China Construction Bank lost 1.2% despite reporting a 26% increase in net income. On the upside index was supported by property companies with Sino Land adding 4% and New World Development soaring 3.8%.