HSI ends down 322 pts at 23,983; turnover at HK$39.8bn

    HK stocks closed sharply lower on Monday morning session despite the US equity markets were little changed on Friday. The benchmark index opened lower and saw its losses widen by midday.
  The Hang Seng Index ended down 322 points to 23,983. The H-share index fell 193 points to 10,589. Turnover reduced to HK$39.77bn from HK$42bn on Friday.
  CR Power (00836) dipped 1.3% to HK$22.6 after its president Wang Yu Jun was in criminal detention on charges of corruption and bribery. Wang quit from the company effective today. CR Land (01109) slid 5% to HK$16.42. CR Cement (01313) fell 1.6% to HK$5.46. But CR Gas (01193) bucked the trend, rising 2% to HK$22.45.
  Agile (03383) announced 1-for-five rights issue to raise HK$2.79bn. It plunged 6.9% to HK$5.41. Other major Chinese developers were lower despite that Nanjing followed suit of the practice of Suzhou, Wuxi and Xuzhou by removing its house purchase restriction. COLI (00688) declined 2.8% to HK$20.5. R&F Properties (02777) dropped 4.6% to HK$8.16.
  Tencent (00700) was down 2.8% to HK$122.6 even though Alibaba Group made an impressive debut in the US on Friday, with the trading-day price closing up 38% from the IPO price.