Hong Kong stocks close 0.42% lower

GMT 00:09 2014 Saturday ,08 November

Arab Today, arab today Hong Kong stocks close 0.42% lower

Hong Kong stocks
Hong Kong - XINHUA

 Hong Kong stocks ended down 0.42 percent on Friday, with the benchmark Hang Seng index falling 99. 07 points to end at 23,550.24 points, after trading between 23,430. 20 and 23,831.25. Turnover totaled 73.24 billion HK dollars (about 9.44 billion U.S. dollars).
The Hang Seng China Enterprises Index fell 29.36 points, or 0. 28 percent, to close at 10,539.33.
Four sub-indices all lost ground, with the Utility sub-index falling the most by 0.81 percent, followed by the Commerce and Industry 0.53 percent, the Properties 0.37 percent and the Finance 0.29 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed down 0.2 percent to 77.95 HK dollars, while its local unit Hang Seng Bank fell 0.8 percent to 130.00 HK dollars. Local bourse operator HKEX increased 2.0 percent at 175. 60 HK dollars.
Local developers Hang Lung Properties slid 0.9 percent to 22.85 HK dollars. Henderson Land, another major developer in Hong Kong, closed down 2.0 percent to 50.15 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, climbed 0.4 percent to 135.30 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, retreated 0.9 percent to 5.65 HK dollars. ICBC, the world's largest bank by market value, went up 0.2 percent to 5.00 HK dollars. Bank of China closed flat at 3.67 HK dollars.
PetroChina, the country's largest oil and gas producer, was down 1.4 percent to 9.18 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)

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