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Roundup: Hong Kong stocks close 1.62 lower

Xinhua, April 14, 2015 Adjust font size:

Hong Kong stocks closed lower on Tuesday after surging over the previous eight sessions.

The benchmark Hang Seng Index slipped 454.85 points, or 1.62 percent, to close on Tuesday at 27,561.49 points.

The benchmark Hang Seng Index traded between 27,483.45 and 27, 915.01. Turnover totaled 237.60 billion HK dollars (about 30.66 billion U.S. dollars).

The Hang Seng China Enterprises Index ended down 325.64 points, or 2.23 percent, to close at 14,264.81.

Three sub-indices lost ground with the Properties dropping 1.28 percent, the Finance declining 1.15 percent and the Commerce and Industry ending down 2.54 percent. One sub-indice gained ground with the Utilities moving up 0.35 percent.

The Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, edged up 0.64 percent to 70.65 HK dollars.

Bank of East Asia, one of the largest local banks in Hong Kong, ended up 1.69 percent to 33.15 HK dollars.

Local bourse operator HKEX slipped 3.97 percent to 285.60 HK dollars.

China Mobile, China's dominant mobile carrier, moved down 1.08 percent to 109.80 HK dollars, while another Chinese telecom giant China Unicom lost 1.74 percent to 13.54 HK dollars.

For the local property stocks, Sun Hung Kai, one of HK's largest property developer by market value, edged down 0.24 percent to 126.20 HK dollars.

As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, dropped 1.31 percent to 7.55 HK dollars.

ICBC, the world's largest bank by market value, dipped 0.91 percent with 6.57 HK dollars. Bank of China ended down 2.20 percent to 5.33 HK dollars.

As for energy stocks, China's top refiner Sinopec rose 1.92 percent to 6.66 HK dollars. PetroChina, the country's largest oil and gas producer, slipped 0.90 percent to 9.97 HK dollars. (1 U.S. dollar equals 7.75 HK dollars) Endi