HONG KONG: Hong Kong stocks have closed down 0.13 per cent, clawing back early losses after Shanghai surged on hopes for an overhaul of state-backed companies and more market support for shares.
The benchmark Hang Seng Index lost 31.35 points to end Monday at 24,521.12 on turnover of $HK80.28 billion ($A13.98 billion).
Shanghai shares closed up 4.92 per cent after weak economic figures released over the weekend.
The benchmark Shanghai Composite Index added 184.22 points to 3,928.42 on turnover of 652.6 billion yuan ($A143.98 billion).
The Shenzhen Composite Index, which tracks stocks on China’s second exchange, jumped 4.49 per cent, or 97.69 points, to 2,274.84 on turnover of 574.8 billion yuan.
China is planning to combine two major state-owned shipping companies – China Ocean Shipping Co, known as Cosco, and China Shipping Co – or merge some of their businesses, Bloomberg News reports.
