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HK stocks drop 0.95 pct, led by casinos

(Xinhua)    18:40, December 03, 2014
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HONG KONG, Dec. 3 -- Hong Kong stocks saw correction Wednesday, with the benchmark Hang Seng Index down 225.68 points, or 0.95 percent, to close at 23,428.62, after trading between 23, 921.76 and 23,378.81.

Turnover totaled 123.2 billion HK dollars (15.9 billion U.S. dollars), up from 104.41 billion HK dollars the previous trading day.

The Hang Seng China Enterprises Index dropped 0.59 percent, or 65.58 points, to close at 11,060.21.

All of the four sub-indices closed lower. The Finance dropped 0. 2 percent; the Utilities lost 1.62 percent; the Properties slid 0. 31 percent; the Commerce and Industry edged down 1.93 percent.

Heavy weight Tencent lost 1.6 percent to 117.7 HK dollars.China Mobile dropped 2.2 percent to 91.3 HK dollars.

Macau Casinos shouldered hefty pressure as a senior Chinese official said the dominance of gaming industry is not good for the overall interests of Macau. Sands China Ltd. plummeted 5.1 percent to 42 HK dollars. Galaxy Ent and SJM Holdings also plunged approximately 5 percent.

Car producers also retreated as UBS lowered the estimated passenger car sales for November in the mainland in its latest research report. BYD Company tumbled 9.3 percent to 41.1 HK dollars. Dongfeng Group lost 3.3 percent to 11.1 HK dollars.

Bucking the trend, HSBC Holdings edged up 0.2 percent to 76.6 HK dollars. HKEX rose 1.6 percent to 172.3 HK dollars as Hong Kong market recorded more than 100 billion HK dollars for three consecutive days.

China Overseas rose 0.9 percent to 23.6 HK dollars. China RES Land gained 1.4 percent to 19.6 HK dollars. China Vanke was up 5 percent to 16.4 HK dollars.

(For the latest China news, please follow @PDChina on Twitter at http://www.twitter.com/PDChina and @PeoplesDaily on Facebook at http://www.facebook.com/PeoplesDaily)

(Editor:Wang Ao,Gao Yinan)
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