Hong Kong stocks closed lower on Wednesday on speculations that the U.S. Federal Reserve is going to start raising interest rates next month.
The benchmark Hang Seng Index moved down 75.99 points, or 0.34 percent, to close at 22,188.26, after trading between 22,163.28 and 22,349.73. Turnover totaled 63.66 billion HK dollars (about 8.21 billion U. S. dollars), compared with 73.86 billion HK dollars the previous trading day.
The Hang Seng China Enterprises Index lost 0.18 percent, or 18. 15 points, to close at 10,055.28 points.
Three of the four sub-indices lost ground. The Utilities edged down 0.77 percent and the Commerce & Industry was 0.59 percent lower. The Finance dropped 0.17 percent, and the Properties rose 0. 05 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, added 0.25 percent to 61.1 HK dollars. Bank of East Asia, one of the largest local banks in Hong Kong, moved up 0.72 percent to close at 28.1 HK dollars.
Local bourse operator HKEX slid 1.63 percent to 205.2 HK dollars. Local developers fell across the board. Sun Hung Kai, one of Hong Kong's largest property developer by market value, closed at 97.1 HK dollars, down 0.77 percent.
Henderson Land dropped 1.25 percent to 47.3 HK dollars. Mainland-based financial stocks closed mixed. Bank of China retreated 0.57 percent to close at 3.46 HK dollars.
China Construction Bank went up 0.18 percent to 5.4 HK dollars. Industrial and Commercial Bank of China, the nation's largest lender, ended at 4.75 HK dollars, unchanged from the previous day' s close.
Oil shares led the increases. CNOOC slid 2.75 percent to close at 8.13 HK dollars. China's top refiner Sinopec shed 0.8 percent to 4.95 HK dollars. PetroChina, the country's largest oil and gas producer, fell 3.22 percent to 5.41 HK dollars. (1 U.S. dollar equals to 7.75 HK dollars)
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