Hong Kong: Stocks down at open, Shanghai rallies

[HONG KONG] Hong Kong stocks sank more than one per cent at the open Thursday after Federal Reserve minutes indicated US interest rates would rise further, but mainland markets rallied as they reopened after the Chinese New Year break.

The Hang Seng Index fell 1.11 per cent, or 347.44 points, to 31,084.45.

But the benchmark Shanghai Composite Index jumped 1.20 per cent, or 38.41 points, to 3,237.57 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.87 per cent, or 15.16 points, to 1,754.31.

AFP