HK stocks dive 2.28% on peripheral markets declines

18:20, October 29, 2009      

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Hong Kong stocks went down on three consecutive days, plunging 496.59 points, or 2.28 percent, to end the trade on Thursday.

Tracking losses on peripheral markets, the Hang Seng index opened 471.49 points, or 2.17 percent, lower at 21,290.09 points. Losses of the shares narrowed down a bit to finish at 21,264.99 points, reaching a record low closing in recent three weeks.

Turnover surged to 80.81 billion HK dollars (about 10.44 billion U.S. dollars) from Wednesday's 68.97 billion HK dollars (about 8.91 billion U.S. dollars).

China Enterprises Index went down 364.51 points, or 2.84 percent, to close at 12,466.67 points.

All four major stock categories dropped. The property sub-indexfell 2.51 percent, the commerce and industry sub-index, 2.58 percent, the finance, 2.15 percent, and the utilities, 1.01 percent.

Cheung Kong, the flagship of Hong Kong's richest man Li Ka- shing, fell 2.31 percent to 97.2 HK dollars. Henderson Land dropped 1.52 percent to 51.9 HK dollars. SHK Properties lost 3.02 percent to 112.5 HK dollars.

Blue-chips generally ended lower. Banking giant HSBC Holdings fell 1.21 percent to close at 85.8 HK dollars. Heavyweight China Mobile, by far the largest mobile carrier in the mainland, lost 1.14 percent to 73.8 HK dollars. HKEx, the sole exchange operator in Hong Kong, plunged 2.2 percent, to 137.6 HK dollars.

Mainland-based commercial lenders plunged. Bank of China, slid 2.70 percent at 4.33 HK dollars. ICBC fell 2.72 percent to 6.08 HK dollars. CCB moved 2.36 percent down to 6.61 HK dollars.

Chinese insurance shares also lost. China Life fell 2.03 percent to 36.25 HK dollars. Ping An dropped 2.16 percent to 67.85HK dollars.

As for energy shares, PetroChina dived 4.02 percent to 9.55 HK dollars, off-shore oil producer CNOOC lost 4.48 percent to 11.5 HK dollars, while Sinopec Corp fell 1.34 percent to 6.63 HK dollars.( 7.8 HK dollars = 1 U.S. dollar)

Source: Xinhua
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