Hong Kong: Stocks open with steep losses

[HONG KONG] Hong Kong shares sank more than 1 per cent at the start of trade Monday morning following another negative lead from Wall Street, while investors kept tabs on developments with property giant China Evergrande as it struggles under a mountain of debt.

The Hang Seng Index shed 1.12 per cent or 280.33 points to 24,640.43.

Mainland Chinese markets are closed for a holiday.

AFP