Hong Kong stocks fell 587.28 points, or 2.68 percent, to close on Monday at 21,327.12 points. The benchmark Hang Seng Index traded between 21,227.61 and 21,794.84. Turnover totaled 73.84 billion HK dollars (about 9.52 billion U.S. dollars). The Hang Seng China Enterprises Index slid 3.62 percent, or 349.85 points, to close at 9,311.18 points. All of the four sub-indices lost ground, with the Finance falling the most by 3.07 percent, followed by the Commerce and Industry 2.42 percent, the Finance 2.26 percent, and the Properties 2.11 percent. Local financial shares were broadly lower.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, declined 2.42 percent to 60.4 HK dollars. Bank of East Asia, one of the largest local banks in Hong Kong, plunged 5.2 percent to close at 27.35 HK dollars.Local bourse operator HKEX decreased 2.87 percent to 192.8 HK dollars. Property developers posted lackluster performances. Sun Hung Kai, one of Hong Kong's largest property developer by market value, closed down 0.43 percent to 93.2 HK dollars. Henderson Land ended 0.32 percent lower at 47.35 HK dollars.
Mainland-based financial stocks also fell. Bank of China, the country's third-largest lender, slid 2.89 percent to close at 3.36 HK dollars. Bank of Communications retreated 3.01 percent to 5.15 HK dollars. Oil majors ended lower. Sinopec, the largest oil refiner, shed 3.21 percent to 4.53 HK dollars. PetroChina, the country's largest oil and gas producer, fell 1.18 percent to close at 5.02 HK dollars.(1 U.S. dollar equals to 7.75 HK dollars)
Latest comments