Roundup: HK stocks close 2.38 pct lower

Hong Kong stocks ended lower on Wednesday with the benchmark Hang Seng index falling 2.38 percent, or 582.19 points to end at 23,916.02 points. Turnover totaled 102. 99 billion HK dollars (about 13.24 billion U.S. dollars).

The Hang Seng China Enterprises Index fell 221.85 points or 1. 97 percent, to close at 11,042.79.

Three sub-indices lost ground, with the Properties sub-index falling the most by 3.02 percent, followed by the Finance 2.49 percent and the Commerce and Industry 2.39 percent. The Utility rose 0.36 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, lost 2.1 percent at 68.60 HK dollars, while its local unit Hang Seng Bank closed down 2.2 percent to 153.60 HK dollars. Local bourse operator HKEX went down 4.2 percent at 207. 00 HK dollars.

Local developers Hang Lung Properties slid 2.7 percent to 20.00 HK dollars. Henderson Land, another major developer in Hong Kong, dropped 3.0 percent to 48.40 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, decreased 2.1 percent to 111.80 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, went down 1.7 percent to 6.21 HK dollars. ICBC, the world's largest bank by market value, shed 1.5 percent to 5.26 HK dollars. Bank of China lost 1.9 percent to 4.13 HK dollars.

PetroChina, the country's largest oil and gas producer, sank 0. 5 percent to 7.29 HK dollars. (1 U.S. dollar equals 7.761 HK dollars). Endi