Roundup: Hong Kong stocks close 0.74 pct lower

Hong Kong stocks closed lower on Monday, with blue chips leading the declines.

The benchmark Hang Seng Index closed down 176.38 points, or 0. 74 percent, to end at 23,814.65, after trading between 23,699.84 and 23,950.57.

Turnover totaled 65.77 billion HK dollars (about 8.49 billion U. S. dollars), up from 64.20 billion HK dollars the previous trading day.

All four sub-indices lost ground, with the Finance sub-index falling the most by 1.09 percent, followed by the Properties down 0.6 percent, the Commerce and Industry 0.42 percent and the Utilities 0.09 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, lost 0.51 percent at 67.65 HK dollars, while its local unit Hang Seng Bank closed down 0.06 percent to 152.6 HK dollars. Local bourse operator HKEX went down 1.16 percent at 205. 4 HK dollars.

Local developers Hang Lung Properties edged up 0.1 percent to 19.74 HK dollars. Henderson Land, another major developer in Hong Kong, fell 0.21 percent to 48.20 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, retreated 0.53 percent to 113.10 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, closed 0.64 percent lower at 6.18 HK dollars. ICBC, the world's largest bank by market value, ended at 5.17 HK dollars, down 1.52 percent. Bank of China fell 0.97 percent to 4.08 HK dollars.

Energy shares posted lackluster performances. PetroChina, the country's largest oil and gas producer, slid 1.1 percent to 7.2 HK dollars. Sinopec, the nation's top oil refiner, lost 0.69 percent to end at 5.76 HK dollars. (1 U.S. dollar equals 7.761 HK dollars) Endi