Hong Kong stocks retreat from 15-month high

Hong Kong shares fell on Monday as investors locked in profit after the city’s benchmark hit a 15-month high and ahead of Tuesday’s US presidential election.

The benchmark Hang Seng Index shed 104.93 points, or 0.47 per cent, to finish at 22,006.40. Turnover fell from Friday’s HK$70 billion to HK$51.7 billion.

Funds fled financial stocks after Chinese banks, which had rallied for weeks, after their third-quarter earnings beat forecasts. HSBC (0005.HK) lost 0.3 per cent to finish at HK$77.75 ahead of its third-quarter earnings due later in the day.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1075478/hong-kong-stocks-retreat-15-month-high