The focus is very much on troubled Chinese property development giant Evergrande.
Its equities in HK are down more than 10% and the weakness is spreading across the property and insurance sectors.
Currenccies ... the offshore yuan is weaker while beneficiaries are the US dollar and yen.
AUD is leading the field lower for the major traded pairs, EUR, GBP, NZD CAD all succumbining to a lesser extent.