Shares in Hong Kong fell on Tuesday, as property developers and financial shares led the declines. The benchmark Hang Seng Index closed down 339.68 points, or 1. 43 percent, to end at 23,474.97, after trading between 23,464.35 and 24,024.37. Turnover totaled 80.83 billion HK dollars (about 10.42 billion U.S. dollars), up from 65.77 billion HK dollars on the previous trading day.
All four sub-indices lost ground, with the Properties sub-index falling the most by 1.58 percent, followed by the Commerce and Industry down 1.49 percent, the Finance 1.42 percent and the Utilities 0.63 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, lost 0.81 percent to 67.1 HK dollars, while its local unit Hang Seng Bank closed down 1.57 percent to 150.2 HK dollars.
Local bourse operator HKEX went down 1.17 percent at 203 HK dollars. Local developers Hang Lung Properties edged down 1.42 percent to 19.46 HK dollars.
Henderson Land, another major developer in Hong Kong, fell 1.76 percent to 47.35 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, retreated 1.9 percent to 110.9 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 1.13 percent lower at 6.11 HK dollars. ICBC, the world's largest bank by market value, ended at 5.12 HK dollars, down 0.97 percent.
Bank of China fell 1.23 percent to 4.03 HK dollars. Energy shares posted lackluster performances. PetroChina, the country's largest oil and gas producer, slid 0.55 percent to 7.16 HK dollars. Sinopec, the nation's top oil refiner, lost 1.39 percent to end at 5.68 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)
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