Hong Kong stocks close 1.21 pct lower after launch of Shanghai-HK Stock Connect

Hong Kong stocks moved down 290. 30 points, or 1.21 percent, to close on Monday at 23,797.08 points, after the official launch of Shanghai-Hong Kong Stock Connect.

The benchmark Hang Seng Index traded between 23,787.28 and 24, 313.06. Turnover totaled 83.02 billion HK dollars (about 10.71 billion U.S. dollars).