Hong Kong declines despite Citi bailout

Hong Kong shares fell Monday, led by financials despite a U.S. government move to stabilize troubled banking giant Citigroup Inc.

Trading volume hit its lowest in months as the blue-chip Hang Seng Index dipped 210.26 points, or 1.6 percent, to 12,457.94.

The market opened lower after Citigroup shares plunged Friday, then recovered some before sliding again after Washington announced its plans to rescue the New York-based financial institution.

Also weighing on financials was word from Standard Chartered PLC, the British bank with major operations in Asia, to raise 1.8 billion pounds ($2.7 billion) in a rights offer to shore up its balance …