Hong Kong stocks end 1.84% lower

20:36, October 28, 2009      

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Hong Kong stocks went down on two consecutive days, plunging 408.01 points, or 1.84 percent, to close at 21,761.58 on Wednesday.

The Hang Seng index dropped 165.04 points, or 0.74 percent, to open at 22,004.55. Losses expanded and the benchmark index fell below 22,000 points in the morning session.

Turnover moved down to 68.97 billion HK dollars (about 8.91 billion U.S. dollars) from Tuesday's 73.56 billion HK dollars (about 9.50 billion U.S. dollars).

China Enterprises Index went down 314.41 points, or 2.39 percent, to close at 12,831.18 points.

All four major stock categories dropped. The property sub-index became the biggest loser, falling 2.23 percent. The commerce and industry sub-index slid 1.95 percent, the finance, fell 1.84 percent, and the utilities, 0.11 percent.

Cheung Kong, the flagship of Hong Kong's richest man Li Ka- shing, fell 2.74 percent to 99.5 HK dollars. Henderson Land edged down 0.38 percent to 52.7 HK dollars. SHK Properties lost 1.86 percent to 116 HK dollars.

Blue- chips generally ended lower. Banking giant HSBC Holdings fell 1.2 percent to close at 86.85 HK dollars. Heavyweight China Mobile, by far the largest mobile carrier in the mainland, lost 1.45 percent to 74.65 HK dollars. HKEx, the sole exchange operator in Hong Kong, plunged 2.5 percent, to 140.7 HK dollars.

Mainland-based commercial lenders went down. Bank of China slid 2.41 percent at 4.45 HK dollars. ICBC fell 2.19 percent to 6.25 HK dollars. CCB moved 2.03 percent down to 6.77 HK dollars.

Chinese insurance shares also lost. China Life fell 2.5 percent to 37 HK dollars. Ping An dropped 2.87 percent to 69.35 HK dollars.

As for energy shares, PetroChina dived 3.02 percent to 9.95 HK dollars, off-shore oil producer CNOOC lost 3.37 percent to 12.04 HK dollars, while Sinopec Corp fell 1.9 percent to 6.72 HK dollars. (7.8 HK dollars = 1 U.S. dollar)

Source: Xinhua
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