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HK stocks close 2.24 pct lower

2015-09-01 20:44

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Hong Kong stocks ended lower on Tuesday with the benchmark Hang Seng index falling 2.24 percent, or 485.15 points to end at 21,185.43 points. Turnover totaled 85.82 billion HK dollars (about 11.03 billion U.S. dollars).

The Hang Seng China Enterprises Index fell 287.30 points or 2. 95 percent, to close at 9,454.11.

Four sub-indices all lost ground, with the Commerce and Industry sub-index falling the most by 2.65 percent, followed by the Finance 1.98 percent, the Properties 1.95 percent and the Utility 1.95 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, fell 1.3 percent at 60.50 HK dollars, while its local unit Hang Seng Bank closed down 0.1 percent to 137.70 HK dollars.

Local bourse operator HKEX went down 1.2 percent at 180. 00 HK dollars. Local developers Hang Lung Properties fell 0.9 percent to 17.66 HK dollars. Henderson Land, another major developer in Hong Kong, lost 2.9 percent to 46.35 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, decreased 2.0 percent to 101.20 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, decreased 2 percent to 5. 34 HK dollars. ICBC, the world's largest bank by market value, went down 1.7 percent to 4.50 HK dollars. Bank of China sank 2.8 percent to 3.44 HK dollars. PetroChina, the country's largest oil and gas producer, slid 3. 9 percent to 6.19 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)

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