Hong Kong stocks fall on profit-taking spree

File Photo (Reuters) File Photo (Reuters)

Hong Kong stocks fell sharply on Monday morning as negative news flows at the weekend - including a corruption crackdown in Saudi Arabia and a call for tougher regulation in China - prompted profit-taking in a market that has surged roughly 30 per cent this year.

The benchmark Hang Seng index tumbled as much as 1.6 per cent before recouping some losses to end the morning session down 0.6 per cent at 28,436.67 points.

The Hong Kong China Enterprises Index lost 1.1 per cent, to 11,472.16, reports Reuters.

Most sectors fell on Monday, with finance and property both falling 1.0 per cent.

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