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Hong Kong stocks loses 0.11% after volatile trading
2007-06-06 03:13:43 Xinhua English

HONG KONG, June 6 (Xinhua) -- Hong Kong stocks posted a roller-coaster performance here Wednesday as investors eyeing different directions tried to set the tone of the market.

The benchmark Hang Seng Index inched up 8.11 points, or 0.04 percent, to open at 20,850.26 rode on a roller coaster track to gain 56.33 points, or 0.27 percent, finishing the morning session at 20,898.48.

The Hang Seng Index once shot up to intra-day of 20,943.94 shortly after trading was resumed in the afternoon but investors' profit-taking moves and pessimistic orders offset the early gains by pulling down the stocks by 23.54 points, or 0.11 percent, to close at 20,818.61, near the intra-day low of 20,803.22.

Three of the sub-indices, the Finance, the Properties and the Commerce and Industry indices, fell and the Utilities was the only sub-index that gained.

Turnover fell to 62.63 billion HK dollars (8.03 billion U.S. dollars) from Tuesday's 76.23 billion HK dollars (9.53 billion U.S. dollars).

Among 39 Hang Seng Index constituent shares, decliners outnumbered gainers 20 to 14, with five stocks standing unchanged.

HSBC, the largest stock measured by capitalization, snailed up 0.07 percent to 144.3 HK dollars.

Another market heavyweight China Mobile, the country's largest mobile phone operator, remained unchanged at 72.85 HK dollars.

The property sectors were mixed. Cheung Kong, one of Hong Kong's largest house developers controlled by tycoon Li Ka-shing, went down 0.29 percent to 103.2 HK dollars. Hutchison, another real estate company controlled by Li Ka-shing, was down 0.13 percent to77.5 HK dollars. Henderson Land lost 1.27 percent to 54.6 HK dollars.

New World Development picked up 0.51 percent to 19.56 HK dollars. Hang Lung added 0.76 percent to 26.35 HK dollars. SHK Properties edged up 0.11 percent to 90.75 HK dollars. Sino Land remained unchanged at 16.88 HK dollars.

China Enterprise Index, or H-shares reflecting those stocks of enterprises registered on the Chinese mainland, edged up 0.06 percent to 11,028.71.

PetroChina, the country's largest oil producer, lost 1.68 percent to 10.54 HK dollars.

CNOOC, China's largest offshore oil producer, slowed down its upwards pace by adding only 0.25 percent to 8.07 HK dollars after days of bull run.

Sinopec, China's second largest oil producer, dipped 0.23 percent to 8.76 HK dollars.

China's banking and insurers sectors were mixed. ICBC, China's largest lender, was 0.24 percent weaker to 4.09 HK dollars. Ping An fell 0.74 percent to 47.2 HK dollars. Bank of China declined 0.78 percent to 3.8 HK dollars. China Construction Bank slid 0.85 percent to 4.68 HK dollars.

China Merchants Bank outpaced the market by gaining 0.47 percent to 21.2 HK dollars. China Life, the country's largest life insurer, stood unchanged at 24.6 HK dollars.

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