Hong Kong stocks close 0.29% lower

GMT 10:40 2014 Monday ,21 July

Arab Today, arab today Hong Kong stocks close 0.29% lower

Hong Kong stocks
Hong Kong - XINHUA

Hong Kong stocks ended 0.29 percent lower on Monday, with the benchmark Hang Seng index falling 67.65 points to end at 23,387.14 points, after trading between 23,372.63 and 23,498.35. Turnover totaled 42.91 billion HK dollars (about 5.53 billion U.S. dollars).
The Hang Seng China Enterprises Index fell 85.50 points, or 0. 82 percent, to close at 10,355.73.
Four sub-indices all lost ground, with the Properties sub-index falling the most by 0.64 percent, followed by the Utility 0.31 percent, the Commerce and Industry 0.26 percent and the Finance 0. 24 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 0.3 percent lower at 79.10 HK dollars, while its local unit Hang Seng Bank closed up 0.2 percent at 128. 90 HK dollars. Bank of East Asia, another Hong Kong's major bank, was down 0.6 percent at 31.90 HK dollars. Local bourse operator HKEX lost 0.2 percent at 153.70 HK dollars.
Local developers Hang Lung Properties closed 0.4 percent lower at 23.35 HK dollars. Henderson Land, another major developer in Hong Kong, slid 1.4 percent to 45.90 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, was down 0.9 percent to 137.40 HK dollars.
As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, closed flat at 5.58 HK dollars. ICBC, the world's largest bank by market value, closed flat at 4.97 HK dollars. Bank of China fell 0.9 percent to 3.49 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, ended down 1.0 percent at 5.17 HK dollars.
PetroChina, the country's largest oil and gas producer, was down 0.2 percent to 10.16 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)

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