Hong Kong stocks close 1.97 pct lower

19:47, February 10, 2011      

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Hong Kong stocks closed down 455. 41 points, or 1.97 percent, at 22,708.62 on Thursday.

The benchmark Hang Seng Index opened down 0.55 percent at 23, 035.64, then traded between 23,069.42 and 22,668.02 during the day 's session.

Turnover totaled 97.69 billion HK dollars (about 12.54 billion U.S. dollars), compared with Wednesday's 90.02 billion HK dollars.

The Hang Seng China Enterprises Index went down 256 points, or 2.08 percent, to close at 12,022.60.

All of the four sub-indices lost ground. The Properties sub- index was the biggest loser, falling 2.44 percent, followed by the Commerce and Industry sub-index, losing 2.38 percent, the Finance, 1.64 percent, and the Utilities, 0.75 percent.

Heavyweight HSBC lowered 0.45 percent to close at 89.30 HK dollars. Its local unit Hang Seng Bank fell 2.41 percent to close at 125.50 HK dollars.

HKEx, the city's sole bourse operator, tumbled 4.88 percent to 167.70 HK dollars. China Mobile, the world's largest mobile operator by subscribers, fell 1.80 percent to 73.50 HK dollars.

China Construction Bank fell 2.24 percent to 6.56 HK dollars, Bank of China dropped 1.26 percent at 3.91 HK dollars. The world's largest bank by market value ICBC down 1.37 percent at 5.74 HK dollars. Agricultural Bank of China, the last of China's "big four " state-owned lenders to go public, lost 1.89 percent at 3.64 HK dollars.

Hong Kong developers ended lower. Cheung Kong Holding, a conglomerate created by Li Ka-shing plunged 3.27 percent to 121.40 HK dollars, Henderson Land declined 2.35 percent to 49.80 HK dollars, Sun Hung Kai Properties slid 1.85 percent to 122 HK dollars,

As for oil shares, PetroChina tumbled 3.04 percent to 10.22 HK dollars, offshore oil producer CNOOC lost 1.83 percent to 16.12 HK dollars. Sinopec dropped 3.39 percent to 7.99 HK dollars. (1 U.S. dollar = 7.788 HK dollars)

Source: Xinhua
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