Hang Seng edges up at open

Pedestrians walk past a stocks display in Hong Kong. (AFP pic)

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 added 0.55%, 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%, or 53.14 points, to 2,768.21, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, tumbled 2.10%, or 30.31 points, to 1,411.23.