Hong Kong stocks close 0.87% lower
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Hong Kong shares closed down 0.87 percent, or 195.96 points at 22,447.20 on Friday, falling for a fourth day tracking losses on the Wall Street.
The benchmark Hang Seng Index opened lower at 22,486.56, falling 0.69 percent, or 156.60 points. It fluctuated between 22, 584.55 and 22,376.36 during the day's trading. The turnover moved down to 60.50 billion HK dollars ( about 7.81 billion U.S. dollars) from Thursday's 69.28 billion HK dollars (about 8.95 billion U. S. dollars).
The China Enterprises Index slid 141.31 points, or 1.05 percent, to close at 13,329.67 points.
Three of the four major stock categories lost ground. The finance sub-index dropped 0.59 percent, the properties shed 1.18 percent, and the commerce and industry fell 1.19 percent. Only the utilities sub-index moved up 0.02 percent.
Banking giant and market heavyweight HSBC dipped 0.52 percent to close at 95.05 HK dollars, while its local unit Hang Seng Bank gained 0.61 percent at 114.90 HK dollars. HKEx, the sole exchange operator in Hong Kong, rose 0.50 percent to 141.70 HK dollars.
China Mobile, by far the largest mobile carrier in China's mainland, fell 1.03 percent to 76.65 HK dollars, while smaller rival China Unicom rose 0.19 percent to 10.50 HK dollars.
The mainland banking shares all finished lower, with ICBC leading the decline by 1.46 percent to close at 6.75 HK dollars. Bank of China lost 0.21 percent, China Construction Bank lost 0.70 percent, and Bank of Communications, 1.34 percent.
The oil shares were also losers. PetroChina moved down 1.19 percent, Sinopec edged down 2.34 percent and offshore oil producer was unchanged.
As for local developers, Cheung Kong, the flagship of Hong Kong 's richest man Li Ka-shing, fell 0.77 percent to 96.70 HK dollars. Henderson Land finished 1.54 percent lower at 54.20 HK dollars. SHK Properties moved down 1.54 percent to 115.40 HK dollars. Sino Land ended 0.71 percent higher at 14.28 HK dollars.
Consumer product exporter Li & Fung dropped 3.99 percent to close at 32.50 HK dollars. (7.742 HK dollars = 1 U.S. dollar)
