Hong Kong stocks close down 1.15%

19:06, January 29, 2010      

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Hong Kong stocks lost 234.38 points, or 1.15 percent, to close at 20,121.99 on Friday, as Wall Street saw a decline overnight.

The benchmark Hang Seng Index opened 1.62 percent lower at 20, 026.52 on Friday. It traded between 19,916.34 and 20,327.69 during the day's session. Turnover totaled 69.5 billion HK dollars (8.91 billion U.S. dollars), compared with Thursday's 65.98 billion HK dollars (8.46 billion U.S. dollars).

The Hang Seng China Enterprises Index shed 137.83 points, or 1. 18 percent, to close at 11,498.20.

All the four sub-indices lost ground. The finance sub- index fell most at 1.33 percent, followed by the properties at 1.31 percent, the commerce and industry at 1.00 percent, and the utilities 0.12 percent.

Market heavyweight HSBC lost 1.45 HK dollars, or 1.71 percent, to close at 83.60 HK dollars and its local unit Hang Seng Bank closed down 0.82 percent at 109.10 HK dollars. China Mobile dipped 1.14 percent to 73.75 HK dollars.

Chinese mainland lenders were all losers. Bank of China decreased 1.32 percent to 3.75 HK dollars. China Construction Bank fell 2.29 percent to 5.98 HK dollars and ICBC dropped 2.06 percent to 5.70 HK dollars and Bank of Communications, 1.50 percent to 7. 89 HK dollars.

As for local developers, Cheung Kong, the flagship of Hong Kong 's richest man Li Ka- shing, slid 1.20 HK dollars, or 1.29 percent, at 92.05 HK dollars. Sun Hung Kai Properties, the leading residential housing developer in Hong Kong, ended 1.28 percent lower at 100.30 HK dollars.

PetroChina retreated 1.12 percent, offshore oil producer CNOOC lost 3.83 percent and Sinopec, 1.77 percent.

Li & Fung jumped 10.22 percent to 35.60 HK dollars. China Life gained 1.46 percent to 34.65 HK dollars. (7.8 HK dollars = 1 U.S. dollar)

Source: Xinhua
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