Hong Kong stocks end 2.73% lower

Hong Kong stocks fell 610.59 points, or 2.73 percent, to close at 21,726.90 on Friday. The benchmark Hang Seng Index traded between 22,230.93 and 21, 703.28. Turnover totaled 77.22 billion HK dollars (9.95 billion U. S. dollars). The Hang Seng China Enterprises Index fell 329.49 points, or 3. 06 percent, to close at 10,429.31. All of the four sub-indices lost ground. The Properties sub- index dropped the most by 2.93 percent, followed by the Finance, down by 2.78 percent. The Commerce and Industry lost 2.7 percent, while the Utilities fell 2.23 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, slipped 1.93 percent to 81.35 HK dollars. Its local unit Hang Seng Bank closed down 1.59 percent at 123.5 HK dollars. Bank of East Asia, another Hong Kong's major bank, plunged 3.53 percent to 30.05 HK dollars. Local bourse operator HKEX lost 3 percent at 127.8 HK dollars. Local developers Hang Lung Properties dived 3.81 percent to close at 29 HK dollars. Henderson Land, another major developer in Hong Kong, decreased 1.85 percent to 53.05 HK dollars, and Cheung Kong Holding, a powerful Hong Kong-based developer controlled by billionaire Li Ka-shing, closed down 1.57 percent to 112.8 HK dollars. Sung Hung Kai Properties fell 1.61 percent to 103.9 HK dollars. As for mainland-based financial stocks, China Construction Bank tumbled 3.65 percent to 6.07 HK dollars. ICBC lost 2.62 percent to close at 5.2 HK dollars. Bank of China shed 2.53 percent to 3.47 HK dollars. Bank of Communications sank 1.9 percent to 5.69 HK dollars. As for energy stocks, China's top refiner Sinopec plunged 3.5 percent to 8.75 HK dollars. PetroChina, the country's largest oil and gas producer, sharply dropped 4.18 to 9.85 HK dollars. CNOOC fell 3.88 percent to 14.36 HK dollars. (1 U.S. dollar equals 7.76 HK dollars)