Hong Kong stocks close 0.62% lower

18:34, March 15, 2010      

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Hong Kong stocks lost 130.64 points, or 0.62 percent, to close at 21,079.10 on Monday.

The benchmark Hang Seng Index opened 0.82 percent lower at 21, 036.42 on Monday. It traded between 20,964.31 and 21,116.50 during the day's session. Turnover totaled 49.39 billion HK dollars ( about 6.37 billion U. S. dollars), compared with Friday's 48.29 billion HK dollars (about 6.19 billion U. S. dollars).

The Hang Seng China Enterprises Index sank 201.79 points, or 1. 66 percent, to close at 11,971.49.

Three of the four sub-indices lost ground. The finance sub- index fell most at 0.99 percent, followed by the commerce and industry at 0.51 percent, the properties at 0.03 percent. The utilities sub-index rose 0.70 percent.

Market heavyweight HSBC lost 0.35 HK dollars, or 0.43 percent, to close at 80.95 HK dollars and its local unit Hang Seng Bank closed down 0.73 percent at 109.10 HK dollars. China Mobile decreased 0.46 percent to 75.10 HK dollars.

Chinese mainland lenders were all losers. Bank of China dipped 1.76 percent to 3.91 HK dollars. China Construction Bank fell 1.29 percent to 6.11 HK dollars and ICBC dropped 0.86 percent to 5.80 HK dollars and Bank of Communications, 1.16 percent to 8.54 HK dollars.

As for local developers, Cheung Kong, the flagship of Hong Kong 's richest man Li Ka- shing, slid 0.40 HK dollars, or 0.41 percent, at 98.15 HK dollars, while Sun Hung Kai Properties, the leading residential housing developer in Hong Kong, ended 0.09 percent higher at 116.20 HK dollars.

PetroChina dropped 2.38 percent, offshore oil producer CNOOC retreated 0.16 percent and Sinopec, 1.13 percent.

Shenhua, the largest coal producer in China, plunged 3.89 percent to 33.35 HK dollars. Tencent, the internet and mobile instant message services operator, soared 3.91 percent to 167.50 HK dollars. (7.750 HK dollars = 1 U.S. dollar)

Source: Xinhua
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