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Roundup: Hong Kong stocks close 2.76 pct lower

Xinhua, January 11, 2016 Adjust font size:

Hong Kong stocks moved down 565.21 points, or 2.76 percent, to close at 19,888.50 points on Monday.

The benchmark Hang Seng Index traded between 19,865.18 and 20,068.78. Turnover totaled 87.48 billion HK dollars (about 11.27 billion U.S. dollars).

The Hang Seng China Enterprises Index fell 3.85 percent, or 340.73 points, to close at 8,505.16 points.

All of the four sub-indices lost ground. The Properties sub-index fell the most at 3.07 percent, followed by the Finance at 2.8 percent, the Commerce & Industry at 2.74 percent, the Utilities at 2.05 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, lost 1.82 percent to close at 56.35 HK dollars.

Bank of East Asia, one of the largest local banks in Hong Kong, plunged 3.32 percent to close at 24.7 HK dollars. Local bourse operator HKEX shed 2.35 percent to 182.1 HK dollars.

Local developers moved down. Sun Hung Kai, one of Hong Kong's largest property developer by market value, closed at 90.05 HK dollars, down 1.63 percent. Henderson Land sank 3.29 percent to 44.05 HK dollars. CKH Holdings closed down 1.4 percent to 97.95 HK dollars.

Mainland-based financial stocks closed lower. Bank of China lost 3.1 percent to close at 3.47 HK dollars. China Construction Bank lowered 1.99 percent to 4.92 HK dollars. Industrial and Commercial Bank of China, the nation's largest lender, dropped 2.98 percent to 4.22 HK dollars.

As for oil shares, CNOOC tumbled 4.19 percent to close at 7.31 HK dollars. China's top refiner Sinopec fell 2.97 percent to 4.24 HK dollars. PetroChina, the country's largest oil and gas producer, dived 4.91 percent to 4.45 HK dollars. (1 U.S. dollar equals to 7.76 HK dollars) Endit