Hong Kong stocks moved down 749.51 points, or 3.82 percent, to close at 18,886.3 points on Wednesday. The benchmark Hang Seng Index traded between 18,833.88 and 19,332.22. Turnover totaled 92.27 billion HK dollars (about 11.83 billion U.S. dollars).
The Hang Seng China Enterprises Index moved down 362.36 points, or 4.33 percent, to close at 8,015.44 points. Four sub-indices lost ground, with the Properties sub-index dropping the most by 4.91 percent, followed by the Commerce and Industry 3.87 percent, the Finance 3.66 percent, and the Utilities 2.5 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, dropped 2.39 percent to 53.15 HK dollars. Bank of East Asia, one of the largest local banks in Hong Kong, retreated 4.9 percent to close at 22.3 HK dollars.
Local bourse operator HKEX lost 5.08 percent to 168.1 HK dollars. China Mobile, China's dominant mobile carrier, went down 3.38 percent to 80 HK dollars. China Unicom, another Chinese telecom giant, retreated 6.24 percent to 8.12 HK dollars. Sun Hung Kai, one of Hong Kong's largest property developers by market value, closed down 3.44 percent to 82.9 HK dollars. Henderson Land ended 6.52 percent lower at 40.15 HK dollars.
Mainland-based financial stocks ended lower. Bank of China went down 2.3 percent to 2.98 HK dollars. China Construction Bank dropped 3.38 percent to 4.58 HK dollars. ICBC closed down 2.97 percent to 3.92 HK dollars. As for energy stocks, China's top refiner Sinopec moved down 6.95 percent to 3.88 HK dollars. PetroChina, the country's largest oil and gas producer, retreated 6 percent to 4.23 HK dollars.
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