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Roundup: Hong Kong stocks close 2.26 pct lower

Xinhua, September 23, 2015 Adjust font size:

Hong Kong stocks fell on Wednesday amid renewed fears over the mainland's slowing economy, after a survey showed the mainland's PMI shrank for a seventh straight month.

The benchmark Hang Seng Index fell 2.26 percent, or 493.67 points, to close at 21,302.91 points, after trading between 21,008. 61 and 21,577.45.

Turnover totaled 92.65 billion HK dollars (about 11.95 billion U.S. dollars), up from 74.44 billion HK dollars the previous trading day.

China's September flash PMI, which measures activity in the country's factory sector, unexpectedly shrank for the seventh straight month to the lowest level in six and a half years, a private survey showed.

The Hang Seng China Enterprises Index dropped 2.7 percent, or 265.14 points, to close at 9,570.25 points.

All of the four sub-indices lost ground. The Properties fell the most by 2.9 percent, followed by the Commerce & Industry sub- index 2.23 percent, the Finance 2.21 percent, and the Utilities 1. 55 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, slid 1.91 percent to 59 HK dollars.

Bank of East Asia, one of the largest local banks in Hong Kong, moved down 2.79 percent to close at 26.25 HK dollars.

Local bourse operator HKEX edged down 1.5 percent to 183.8 HK dollars.

Mainland-based financial stocks posted lackluster performances. Bank of China retreated 2.87 percent to close at 3.39 HK dollars. China Construction Bank went down 2.39 percent to 5.31 HK dollars. Bank of Communications decreased 2.69 percent at 5.43 HK dollars. ICBC lost 2.79 percent to 4.55 HK dollars.

Local property stocks closed lower. Sun Hung Kai, one of Hong Kong's largest property developer by market value, closed at 102.8 HK dollars, down 2.1 percent. Henderson Land slid 1.86 percent to 47.5 HK dollars. CKH Holdings lost 1.65 percent to 101.5 HK dollars.

Energy stocks fell across the board. Kulun Energy Co. plunged 5. 25 percent to close at 5.58 HK dollars. China's top refiner Sinopec dropped 3.88 percent to 4.95 HK dollars. PetroChina, the country's largest oil and gas producer, fell 3.79 percent to 5.58 HK dollars.

China Mobile, China's dominant mobile carrier, dipped 1.6 percent to 95.4 HK dollars. China Unicom, another Chinese telecom giant, lost 4 percent to 9.83 HK dollars. (1 U.S. dollar equals to 7.75 HK dollars) Endi