Hong Kong stocks close down on mainland loss

18:26, March 04, 2010      

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Hong Kong stocks Thursday ended down 301.01 points, or 1.44 percent, weighed by loss on Chinese mainland market which tumbled 2.4 percent.

The benchmark Hang Seng Index opened 0.51 percent higher at 20, 983.81. It reached the day-high of 21,000.13 before closing at the day-low of 20,575.78. Turnover totaled 62.68 billion HK dollars, compared with Wednesday's 59.9 billion HK dollars.

The Hang Seng China Enterprises Index dropped 273.19 points, or 2.27 percent, to close at 11,775.06.

Three of the four sub-indices lost. The finance sub-index dropped 1.8 percent, followed by the commerce and industry, losing 1.4 percent, and the properties, edging up 0.70 percent. The utilities sub-index went up 0.38 percent.

Heavyweight HSBC dipped 0.49 percent to close at 81.05 HK dollars. Its local unit Hang Seng Bank edged up 0.09 percent at 108.80 HK dollars. China Mobile down 2.41 percent to 72.85 HK dollars.

Chinese mainland lenders lost. Bank of China plunged 3.47 percent to 3.89 HK dollars. China Construction Bank fell 2.93 percent to 5.96 HK dollars. Bank of Communications dropped 3.5 percent to 8.27 HK dollars. ICBC down 2.54 percent to 5.75 HK dollars.

As for local developers, Cheung Kong, the flagship of Hong Kong 's richest man Li Ka-shing, fell 0.52 percent to 95.70 HK dollars. SHK Properties ended 1.18 percent higher at 109.30 HK dollars. Henderson Land lost 0.47 to 52.85 HK dollars.

PetroChina slightly lost 1.79 percent to 8.77 HK dollars, offshore oil producer CNOOC dropped 0.65 percent to 12.16 HK dollars. Sinopec went down 1.14 percent to 6.09 HK dollars.

Li & Fung added 1.19 percent to 38.40 HK dollars. Ping An retreated 1.07 percent to 60.20 HK dollars. (7.8 HK dollars =1 U.S. dollar)

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