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Hong Kong stocks open 1.18% down

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HONG KONG, Nov 15 AFP

November 15 2012, 12:38AM

Hong Kong stocks opened 1.18 percent lower on Thursday after US President Barack Obama challenged Republican rivals to accept tax hikes for the rich as talks begin on a deal to avert a fiscal cliff.

The benchmark Hang Seng Index shed 253.05 points to 21,188.94 in the first minutes of trade.