Hong Kong stocks close 0.39% lower

Hong Kong stocks closed down 108. 49 points, or 0.39 percent to 27,585.05 points on Wednesday.

The benchmark Hang Seng Index traded between 27,490.33 and 27, 751.44. Turnover totaled 137.78 billion HK dollars (about 17.78 billion U.S. dollars).

The Hang Seng China Enterprises Index ended up 44.4 points, or 0.31 percent, to close at 14,235.9 points.

Three of the four sub-indices lost ground. The Commerce & Industry sub-index fell the most at 0.91 percent, followed by the Properties at 0.54 percent and the Finance at 0.01 percent, while the Utilities rose 0.23 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, slid 0.07 percent to 74.6 HK dollars.

Bank of East Asia, one of the largest local banks in Hong Kong, rose 1.18 percent to close at 34.35 HK dollars.

Local bourse operator HKEX dropped 0.14 percent to 288.4 HK dollars.

China Mobile, China's dominant mobile carrier, fell 1.43 percent to 103.6 HK dollars. China Unicom, another Chinese telecom giant, closed flat at 13.98 HK dollars.

Local property stocks went down in general. Sun Hung Kai, one of Hong Kong's largest property developer by market value, fell 0. 08 percent to 131.1 HK dollars. Henderson Land lost 0.16 percent to 62.95 HK dollars. CKH Holdings retreated 0.53 percent to 167.7 HK dollars.

Mainland-based financial stocks closed higher. Bank of China rose 0.58 percent to close at 5.22 HK dollars. China Construction Bank gained 0.53 percent to 7.57 HK dollars. Bank of Communication added 0.83 percent to 7.55 HK dollars. ICBC closed 0.45 percent higher at 6.73 HK dollars.

As for energy stocks, China's top refiner Sinopec lost 0.15 percent to 6.89 HK dollars. PetroChina, the country's largest oil and gas producer, fell 0.52 percent to 9.57 HK dollars. CNOOC dropped 0.48 percent to 12.34 HK dollars. (1 U.S. dollar equals 7. 75 HK dollars)