Hang Seng index erases opening gains on Greek worries

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Source: Dukascopy Bank
Hong Kong's Hang Seng index offset strong early gains and closed lower on Monday as the optimism on US jobs report was outweighed by Greek bailout uncertainty. Hang Seng index dropped 0.23% or 47.04 points and closed at 20,709.94, driven by property and telecommunication shares. China Resources Land Ltd. fell 4% while China Overseas Land & Investment Ltd gave up 2.3%. China Mobile Ltd. lost 1.7% and China Unicom Hong Kong Ltd. tumbled 4.5%. On the upside HSBC Holdings PLC soared 1.6%. 

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