Hong Kong stocks close flat

GMT 09:44 2014 Monday ,18 August

Arab Today, arab today Hong Kong stocks close flat

Hong Kong stocks
Hong Kong - XINHUA

Hong Kong stocks ended almost flat on Monday, with the benchmark Hang Seng index edging up 0.52 points to end at 24,955.46 points, after trading between 24,765.03 and 24,978.94. Turnover totaled 69.68 billion HK dollars (about 8. 98 billion U.S. dollars).
The Hang Seng China Enterprises Index fell 38.71 points, or 0. 35 percent, to close at 11,065.21.
Two sub-indices gained ground, with the Commerce and Industry sub-index rising 0.64 percent and the Utility 0.19 percent. The Properties fell 0.53 percent, while the Finance lost 0.48 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed down 0.5 percent to 83.50 HK dollars, while its local unit Hang Seng Bank closed 0.5 percent lower at 129.80 HK dollars. Local bourse operator HKEX gained 0.8 percent at 184.50 HK dollars.
Local developers Hang Lung Properties closed flat at 23.40 HK dollars. Henderson Land, another major developer in Hong Kong, went down 1.1 percent to 49.25 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, sink 0.3 percent to 144.00 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, lost 0.8 percent to 5.86 HK dollars. ICBC, the world's largest bank by market value, retreated 0.4 percent to 5.24 HK dollars. Bank of China declined 0. 5 percent to 3.67 HK dollars.
PetroChina, the country's largest oil and gas producer, rose 0. 1 percent to 10.76 HK dollars. (1 U.S. dollar equals 7.76 HK dollars)

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