Roundup: Hong Kong stocks dive for 6th straight day

Hong Kong stocks dived for a sixth consecutive trading day on Friday, following tumbles in the Chinese mainland and global markets. The benchmark Hang Seng Index dropped 1.53 percent, or 347.85 points, to 22,409.62, after trading between 22,185.85 and 22,492. 79. The Hong Kong China Enterprise Index lost 1.47 percent to end at 10,195.05. Turnover totaled 118.28 billion HK dollars (about 15.24 billion U.S. dollars), up from 105.07 billion HK dollars the previous trading day. All four sub-indices lost ground, with the Utilities sub-index falling the most by 1.86 percent, followed by the Finance down 1. 69 percent, the Commerce and Industry 1.47 percent and the Utilities 0.88 percent. Galaxy Entertainment Group Ltd., continued to lead the declines, closing at 28.05 HK dollars, down 4.43 percent. Other blue-chips were broadly lower. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, lost 0. 69 percent to 64.9 HK dollars, while its local unit Hang Seng Bank retreated 2.6 percent to 138.8 HK dollars. Local bourse operator HKEX went down 2.04 percent at 191.7 HK dollars. Local developers Hang Lung Properties slid 2.66 percent to 18.3 HK dollars. SHK Properties, another major developer in Hong Kong, fell 0.29 percent to 104 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, retreated 2.93 percent to 102.7 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 2.2 percent lower at 5.79 HK dollars. ICBC, the world's largest bank by market value, ended at 4.93 HK dollars, down 1.6 percent. Bank of China fell 2. 02 percent to 3.87 HK dollars. Energy shares posted lackluster performances. PetroChina, the country's largest oil and gas producer, fell 2.5 percent to 6.63 HK dollars. Sinopec, the nation's top oil refiner, lost 2.67 percent to end at 5.43 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)