(Yicai Global) Feb. 20 -- Hong Kong's stock market resumed trading in volatile fashion today after nearly a week off for the Chinese New Year holiday.

The benchmark Hang Seng Index opened higher but quickly lost steam to fall 1.24 percent lower than opening within the first half hour of trading.  It began a steady rebound before the midday break but ended down 0.78 percent.

The market performed well over the past year and will see more active trading in 2018, Charles Li, chief executive of the exchange, said at the New Year opening ceremony this morning.

The bourse will alter regulations to encourage more new technology companies to list in the special administrative region in the coming year, added Sir Chung-kong Chow, chairman.

Elsewhere in Asia, the Taiwan exchange climbed by almost 0.5 percent and the Tokyo bourse fell 0.9 percent. Mainland China's A-share stock markets are still closed and due to reopen on Feb. 22.