Hong Kong: Stocks edge up at open on Monday

[HONG KONG] Hong Kong stocks opened with gains on Monday morning after China's central bank cut the amount of cash lenders must keep in reserve in a bid to support the stuttering economy.

The Hang Seng Index slipped 0.55 per cent, or 145.03 points, to 26,717.60.

However, mainland markets sank as traders returned from a week-long holiday that saw a sharp sell-off in global equities.

The benchmark Shanghai Composite Index fell 1.88 per cent, or 53.14 points, to 2,768.21, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, tumbled 2.10 per cent, or 30.31 points, to 1,411.23.

AFP