Hong Kong shares flat by break as Shanghai gains

Hong Kong - Hong Kong stocks clawed back early gains to trade flat by the break on Monday, while Shanghai shrugged off concerns about the re-starting of IPOs to push higher.

The benchmark Hang Seng Index edged down 6.09 points, to 22 748.63, by the break.

Mainland Chinese shares rose, however, with brokerages making gains after the regulator said it would restart initial public offerings after a months-long freeze.

While the change signals growing confidence in Chinese stocks they were suspended in July following a huge rout, it had also worried dealers they could flood the market with new shares.

The benchmark Shanghai Composite Index gained 14.20 points to 3 644.70.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.67 15.25 points, to 2 301.08.