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Hong Kong: Stocks drop at open


[HONG KONG] Hong Kong stocks sank at the start of trade Monday as a forecast-busting US jobs report dashed hopes for a steep cut in interest rates by the Federal Reserve this month.

The Hang Seng Index fell 0.91 per cent, or 261.69 points to 28,513.14.

The benchmark Shanghai Composite Index slipped 0.44 per cent, or 13.25 points, to 2,997.81, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 0.22 per cent, or 3.49 points, to 1,597.71.