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Hong Kong stocks down 1.41% at open

A passerby looks at a panel displaying the blue-chip Hang Seng Index outside a bank during afternoon trading in Hong Kong, China May 28, 2015.

[HONG KONG] Hong Kong shares fell 1.41 per cent soon after opening Monday, in line with a global sell-off on fears Greece will default on a debt repayment and crash out of the eurozone.

The Hang Seng Index sank 376.70 points to 26,287.17.

However, Shanghai and Shenzhen, which both plunged at the end of last week, rallied after China's central bank cut interest rates at the weekend for the fourth time since November.

The benchmark Shanghai Composite Index was up 2.31 per cent, or 96.90 points, at 4,289.77, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 1.77 per cent, or 44.41 points, to 2,547.37.