Hong Kong, Shanghai: Stocks turn down at open

[HONG KONG] Shares in Hong Kong and Shanghai resumed their downward spiral Tuesday morning after a two-day rally as a recovery in oil prices came to a juddering halt.

The Hang Seng Index sank 1.40 per cent, or 271.30 points, to 19,340.14 in the first few minutes.

And the benchmark Shanghai Composite Index lost 1.05 per cent, or 30.79 points, to 2,907.72, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, slid 1.16 per cent, or 21.38 points, to 1,824.40.

REUTERS