Hong Kong stocks close 0.41% lower

GMT 19:47 2015 Tuesday ,14 July

Arab Today, arab today Hong Kong stocks close 0.41% lower

Hong Kong stocks
Hong Kong - XINHUA

Hong Kong stocks ended lower on Tuesday with the benchmark Hang Seng index falling 0.41 percent, or 103.1 points to end at 25,120.91 points. Turnover totaled 126. 12 billion HK dollars (about 16.25 billion U.S. dollars).

The Hang Seng China Enterprises Index fell 167.66 points, or 1. 4 percent, to close at 11,836.17.

Four sub-indices lost ground, with the Finance sub-index falling by 1.14 percent and the Utility 0.06 percent. The Commerce and Industry rose 0.29 percent while the Properties added 0.23 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, fell 0.7 percent at 68.55 HK dollars, while its local unit Hang Seng Bank closed down 1.1 percent to 150.50 HK dollars. Local bourse operator HKEX lost 2.5 percent at 233.60 HK dollars.

Local developers Hang Lung Properties slid 2.4 percent to 22.15 HK dollars. Henderson Land, another major developer in Hong Kong, climbed 0.5 percent to 52.45 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, retreated 0.1 percent to 112.00 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, went down 1.2 percent to 6.50 HK dollars. ICBC, the world's largest bank by market value, was down 1.0 percent to 5.72 HK dollars. Bank of China slid 0.9 percent to 4.49 HK dollars.

PetroChina, the country's largest oil and gas producer, decreased 1.1 percent to 8.03 HK dollars. (1 U.S. dollar equals 7. 761 HK dollars)

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