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Hong Kong: Stocks fall in early trade


[HONG KONG] Hong Kong stocks fell in early trade on Monday after the city held its first elections since pro-democracy protests last year, while Shanghai eked out early gains.

Shares in Guotai Junan led the market lower, slumping 11 per cent after the company said its chairman Yim Fung could not be contacted, and contributing to a drop of 0.49 per cent in the benchmark index.

Hong Kong's Hang Seng Index dipped 110.68 points, to 22,644.04, in early trade.

Mainland stocks rose slightly in early deals, despite market jitters that the upcoming resumption of initial public offerings after a months-long freeze could tie up capital.

The benchmark Shanghai Composite Index edged up 0.15 per cent, or 5.47 points, to 3,635.97.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.41 per cent, or 9.48 points, to 2,295.31.