Hong Kong stocks dropped 160.55 points, or 0.71 percent, to close on Wednesday at 22,439.91 points. The benchmark Hang Seng Index traded between 22,356.56 and 22, 576.50. Turnover totaled 72.27 billion HK dollars (9.33 billion U. S. dollars), down from 79.89 billion HK dollars of the previous trading day.
The Hang Seng China Enterprises Index dropped 103.27 points, or 0.99 percent, to 10,334.42 points. Two of the four sub-indices lost ground, with the Finance sub- index declining at 1.07 percent and the Commerce & Industry at 0. 63 percent. While the other two gained ground, with the Properties rising at 0.13 percent and the Utilities at 0.06 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, retreated 0.88 percent to 61.65 HK dollars. Bank of East Asia, one of the largest local banks in Hong Kong, lost 0.7 percent to close at 28.25 HK dollars.
Local bourse operator HKEX edged down 0.76 percent to 196.7 HK dollars. China Mobile, China's dominant mobile carrier, retreated 1.46 percent to 91.2 HK dollars. China Unicom, another Chinese telecom giant, gained 0.74 percent to 10.84 HK dollars.
Local property stocks closed down. Sun Hung Kai, one of Hong Kong's largest property developer by market value, rose 0.99 percent to 102.3 HK dollars. Henderson Land rose 0.52 percent to 48.65 HK dollars.CKH Holdings climbed 0.38 percent to 106 HK dollars.
Mainland-based financial stocks closed down. Bank of China slid 1.37 percent to close at 3.61 HK dollars. China Construction Bank fell 1.41 percent to 5.59 HK dollars. Bank of Communication went down 0.18 percent to 5.7 HK dollars. ICBC lost 1.6 percent to 4.91 HK dollars. As for energy stocks, China's top refiner Sinopec dropped 0.36 percent to 5.57 HK dollars. PetroChina, the country's largest oil and gas producer, advanced 0.64 percent to 6.3 HK dollars. CNOOC moved down 0.77 percent to 9.06 HK dollars.
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