Hong Kong stocks close 1.34% lower
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Xinhua, August 18, 2011
Hong Kong stocks closed lower Thursday on weak of the U.S. market performance overnight, with the weighted index losing 272.76 points, or 1.34 percent, to end at 20,016.27.
The benchmark Hang Seng Index once reached as low as 19,969.21 during the day's trading. Turnover increased to 72.2 billion HK dollars from 67.9 billion HK dollars on Wednesday.
Analysts said they expected the index to trade in a range of 20,000 to 20,500 until the end of this month, with gains limited by growing concerns over both potential monetary tightening in the mainland as well as lingering debt woes in the United States and Europe.
Heavyweight HSBC shed 2 percent to 68.05 HK dollars. China Mobile edged down 0.6 percent to 75.15 HK dollars despite the better-than-expected half year result.
Bucking the trend, HKEx rose 3.6 percent to 147.6 HK dollars after the local bourse said it plans to set up a joint venture company with Shanghai and Shenzhen bourses.
Insurer Ping An fell nearly 3 percent to end at 65.05 HK dollars. The Chinese mainland lender CCB down 0.5 percent to 5.45 HK dollars.
Cheung Kong Holding, HK-based developer controlled by billionaire Li Ka-shing, dropped 1.1 percent to 103.9 HK dollars.
The Hang Seng Enterprise Index dipped 217.65 points or 1.99 percent points to close at 10,718.46.
