Thu, April 05, 2012
Business > Markets

Hong Kong stocks end 0.95 pct lower

2012-04-05 10:11:25 GMT2012-04-05 18:11:25(Beijing Time)  Xinhua English

HONG KONG, April 5 (Xinhua) -- Hong Kong shares ended 0.95 percent lower on Thursday, following the loss of external markets which fell after a weak Spanish bond auction inflamed concerns about the European debt crisis and hopes faded for more help for the U.S. economy from the Federal Reserve.

The benchmark Hang Seng index closed down 197.98 points, or 0.95 percent, to end at 20,593.00 points, after trading between a day low of 20,404.15 and a day high of 20,670.20 points.

Turnover totaled 49.03 billion HK dollars (about 6.37 billion U. S. dollars) compared with Tuesday's 63.14 billion HK dollars.

The Hang Seng China Enterprises Index dropped 114.58 points, or 1.06 percent, to close at 10,744.91.

Three of the four sub-indices ended lost ground. The Finance sub-index became the biggest loser, dropping 1.11 percent, followed by the Commerce and Industry, losing 1.03 percent, and the Properties, down 0.42 percent. While the Utilities moved up 0.28 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, ended 1.22 percent lower to close at 68.75 HK dollars.

The local unit Hang Seng Bank dropped 0.59 percent to 102 HK dollars. Bank of East Asia, another Hong Kong's major bank, down 1.19 percent to close at 29.05 HK dollars. Local bourse operator Hong Kong Exchanges and Clearing moved down 0.69 percent to 130 HK dollars.

Mainland bank stocks put in weak performance generally. ICBC, the world's largest bank by market value, lost 1.57 percent to close at 5.03 HK dollars. China Construction Bank dropped 1.96 percent at 6 HK dollars, and Bank of Communications down 3.2 percent to 5.74 HK dollars, while Bank of China fell 1.56 percent at 3.15 HK dollars.

Local Property stocks landed in the negative territory. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, moved down 1.16 percent to 101.9 HK dollars. Hang Lung Properties went down 2 percent to 29.3 HK dollars. Sun Hung Kai Properties lost 0.31 percent to close at 95.95 HK dollars. However, Henderson Land, another major developer in Hong Kong, added 0.34 percent to 43.95 HK dollars.

As for oils shares, the country's largest oil and gas producer PetroChina moved down 1.26 percent to 11 HK dollars. China's top refiner Sinopec fell 1.06 percent, to close at 8.38 HK dollars. While the HK-listed unit of China's National Offshore Oil Corporation, CNOOC, ended 0.38 percent lower to 15.88 HK dollars.

Bucking the trend, China Resource Land was the best-performing blue chip in the day, with its shares adding 2.14 percent to 14.3 HK dollars.(1 U.S. dollar equals to 7.76 HK dollars)


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