Hong Kong stocks ended lower on Friday with the benchmark Hang Seng index falling 1.78 percent, or 481.88 points, to end at 26,663.87 points. Turnover totaled 151.28 billion HK dollars (about 19.49 billion U.S. dollars). The Hang Seng China Enterprises Index fell 379.71 points, or 2. 82 percent, to close at 13,088.19.
Four sub-indices all lost ground, with the Finance sub-index falling the most by 1.88 percent, followed by the Commerce and Industry 1.74 percent, the Properties 1.66 percent and the Utility 1.10 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, fell 1.5 percent at 71.95 HK dollars, while its local unit Hang Seng Bank closed down 1.7 percent to 152.30 HK dollars. Local bourse operator HKEX lost 0.6 percent at 284.20 HK dollars.
Local developers Hang Lung Properties slid 3.3 percent to 23.30 HK dollars. Henderson Land, another major developer in Hong Kong, declined 0.9 percent to 53.50 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, retreated 2.2 percent to 114.20 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 2.6 percent to 7.09 HK dollars. ICBC, the world's largest bank by market value, was down 1.5 percent to 6.60 HK dollars. Bank of China slid 1.9 percent to 5.03 HK dollars. PetroChina, the country's largest oil and gas producer, decreased 3.2 percent to 8.75 HK dollars. (1 U.S. dollar equals 7. 761 HK dollars)
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