Hong Kong stocks rebounded as mainland markets opened

Hong Kong stock market rebounded from earlier slump as the mainland A-share market opened after the Golden Week holiday. 

The benchmark Hang Seng Index opened 32 points higher at 26,862 points and once plunged to as low as 26,480, while rebounding to 26,824 as of 10.47.

The tech gauge inched up 0.9 percent to 6,572 points.

HSBC (0005) dropped 7 percent to HK$102.8 after announcing its proposal to privatise Hang Seng Bank (00011) at HK$155 per share and recommended delisting Hang Seng Bank shares. Hang Seng Bank advanced 26 percent to HK$149.

Tencent (0700) dipped 0.07 percent and Alibaba (9988) fell 0.6 percent.