Hong Kong stocks close 0.23% lower

GMT 11:03 2014 Friday ,08 August

Arab Today, arab today Hong Kong stocks close 0.23% lower

Hong Kong stocks
Hong Kong - XINHUA

Hong Kong stocks went down 56.15 points, or 0.23 percent, to close on Friday at 24,331.41 points, following a negative lead as tensions worsened in Iraq and Russia.
Geopolitical tensions worsened in Irap and Russia. U.S. President Barack Obama authorized air strikes in Iraq on Friday. Asian stocks dropped with the regional benchmark index heading for a seven-week low.
The benchmark Hang Seng Index traded between 24,190.93 and 24, 493.01. Turnover totaled 71.92 billion HK dollars (about 9.28 billion U.S.dollars).
The Hang Seng China Enterprises Index ended down 0.40 percent, to close at 10,832.66.
Two of the sub-indices ended lower with the Properties decreased 0.90 percent, the Finance ended down 0.58 percent. Two of the sub-indices ended higher with the Utilities closed up 0.17 percent and the Commerce and Industry rose 0.27 percent.
Henderson Land,a major developer in Hong Kong, dropped 2.87 percent to 47.35 HK dollars to lead the declines on the Hang Seng Index on Friday. Cheung Kong Holding, a powerful Hong Kong based developer controlled by billionaire Li Ka-shing,lost 2.24 percent to 139.90 HK dollars.
Other blue chips ended lower on Thursday with China Unicom,lost 1.72 percent to 12.58 HK dollars. China Resources, ended down 1.27 percent to 23.35 HK dollars. Bank of Communication lost 1.21 percent to 5.74 HK dollars. Wharf Holdings, ended down 1.08 percent to 59.35 HK dollars.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 0.55 percent lower at 81.95 HK dollars. Local bourse operator HKEX fell 0.51 percent to 176.70 HK dollars.
Bucking the trend, CNOOC rose 1.72 percent to 14.16 HK dollars. China RES Power gained 1.57 percent to 22.60 HK dollars. Sinopec Corporation ended up 1.21 percent to 7.53 HK dollars. Tencent gained 1.17 percent to 139.80 HK dollars. Sino Land increased 1.06 percent to 13.32 HK dollars.

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