Hong Kong stocks close 2.31% lower

22:33, June 29, 2010      

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Hong Kong stocks Tuesday plunged 477.78 points, or 2.31 percent, to close at 20,248.90, tracking losses on mainland markets.

The benchmark Hang Seng Index opened flat at 20,727.45 and fluctuated between 20,738.15 and 20,190.88 before closing the day' s session.

Turnover totaled 59.05 billion HK dollars compared with Monday' s 45.04 billion HK dollars.

The Hang Seng China Enterprises Index tumbled 320.35 points, or 2.7 percent, to close at 11,536.20.

All four sub-indices went down, with the properties sub-index lost most at 2.63 percent, followed by the commerce and industry, 2.60 percent, the finance, 2.20 percent, the utilities, 0.59 percent.

Heavyweight HSBC, edged up 0.07 percent to close at 75.30 HK dollars. Its local unit Hang Seng Bank retreated 0.28 percent to 105.50 HK dollars. China Mobile edged down 0.44 percent to 79.00 HK dollars.

Chinese mainland lenders ended lower. Bank of China fell 2.46 percent to 3.97 HK dollars, ICBC, 2.21 percent to 5.76 HK dollars, China Construction Bank, 2.22 percent to 6.60 HK dollars, Bank of Communications, 3.44 percent to 8.41 HK dollars.

As for local developers, Cheung Kong, the flagship of Hong Kong 's richest man Li Ka-shing, fell 2.62 percent to 91.15 HK dollars. SHK Properties, the leading residential housing developer in Hong Kong, lost 3.9 percent to 108.30 HK dollars. Henderson Land went down 1.89 percent to 46.80 HK dollars.

PetroChina lost 2.13 percent to 8.74 HK dollars, offshore oil producer CNOOC decreased 3.61 percent to 13.34 HK dollars, while Sinopec lost 2.59 percent at 6.39 HK dollars. (7.784 HK dollars =1 U.S. dollar)



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