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HK stocks end 0.04% lower

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(Globalpost/GlobalPost)

Hong Kong stocks fell 8.85 points, or 0.04 percent, to close at 21,718.05 on Monday. The benchmark Hang Seng Index traded between 21,772.23 and 21, 612.05. Turnover totaled 58.05 billion HK dollars (7.48 billion U.S. dollars).

The Hang Seng China Enterprises Index rose 0.45 points to close at 10,429.76. Half of the four sub-indices lost ground. The Properties sub-index dropped by 128.06 points, or 0.43 percent, while the Finance sub-index retreated 72.26 points, or 0.24 percent.

However, the Commerce and Industry sub-index rose 0.3 percent, and the Utilities gained 0.21 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, slipped 0.12 percent to 81.25 HK dollars. Its local unit Hang Seng Bank closed down 0.81 percent at 122.5 HK dollars. Local bourse operator HKEX lost 0.23 percent to close at 127.5 HK dollars.

Local developer Henderson Land dived 1.04 percent to close at 52.5 HK dollars. Cheung Kong Holding, a powerful Hong Kong-based developer controlled by billionaire Li Ka-shing, closed down 1.15 percent to 111.5 HK dollars. Sung Hung Kai Properties fell 0.48 percent to 103.4 HK dollars.

As for mainland-based financial stocks, Industrial and Commercial Bank of China, the country's largest lender by market value, fell 0.58 percent to finish at 5.17 HK dollars. Bank of China shed 0.29 percent to close at 3.46 HK dollars, while Agricultural Bank of China climbed 0.28 percent to finish at 3.52 HK dollars.

As for energy stocks, China's top refiner Sinopec edged up 0.23 percent to 8.77 HK dollars. PetroChina, the country's largest oil and gas producer, gained 0.41 percent to 9.89 HK dollars. CNOOC fell 0.97 percent to finish at 14.22 HK dollars. (1 U.S. dollar equals 7.76 HK dollars) .

http://www.globalpost.com/dispatch/news/asianet/130409/hk-stocks-end-004-lower