Shares fell more than 3 percent in Hong Kong on Monday in holiday-thinned trading in Asia, with other big markets in Tokyo and Shanghai closed. Other regional benchmarks also fell after Wall Street wrapped up last week with another decline. Investors are watching to see whether the Federal Reserve will take any action to address the impact of rising prices on businesses and consumers. Hong Kong property companies and banks lost ground on persisting concerns over the potential for ripple effects from the financial troubles of Chinese developer Evergrande. The company was expected to miss interest payments, as ratings companies forecast it may default on its debt. The Hang Seng in Hong Kong dropped 3.5 percent to 24,035.30 and Australia’s S&P/ASX 200 shed 1.6 percent to 7,287.90. Markets were closed in mainland China, South Korea, Japan and Malaysia. The Fed is due to deliver its latest economic and interest rate …