Hong Kong stocks close 1.6% lower

Hong Kong stocks went down 367. 54 points, or 1.60 percent, to close on Tuesday at 22,671.26 points. The benchmark Hang Seng Index traded between 23,054.35 and 22, 658.27. Turnover totaled 63.61 billion HK dollars (about 8.21 billion U.S. dollars), up from Monday's 61.09 billion HK dollars. The Hang Seng China Enterprises Index ended down 215.28 points, or 2.10 percent, to close at 10,028.74. All of the four sub-indices lost grounds. The Commerce & Industry sub-index fell the most at 2.02 percent, followed by the Finanace sub-index, at 1.43 percent, the Properties, 1.19 percent, the Utilities, 0.4 percent. The Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, lowered 0.62 percent at 79.85 HK dollars. Bank of East Asia, one of the largest local banks in Hong Kong, closed down 1.37 percent at 32.45 HK dollars China Mobile, China's dominant mobile carrier, moved down 1.96 percent to 72.45 HK dollars. Another Chinese telecom giant China Unicom fell 1.12 percent at 10.62 HK dollars. Local bourse operator HKEX plunged 5.27 percent to 141.90 HK dollars. For the local property stocks, Sun Hung Kai, HK's largest property developer by market value, fell 0.2 percent to 100.40 HK dollars. Cheung Kong properties, controlled by billionaire Li Ka- shing, added 0.37 percent to 136.20 HK dollars. As for mainland-based financial stocks, Bank of China ended slipped 1.42 percent at 3.46 HK dollars. Bank of Communications lost 2.53 percent to 5 HK dollars. China Construction Bank dropped 1.81 percent to 5.41 HK dollars. ICBC ended 1.03 percent lower at 4.79 HK dollars. As for energy stocks, China's top refiner Sinopec lost 3.91 percent to 6.89 HK dollars. PetroChina, the country's largest oil and gas producer closed down 1.92 percent at 8.68 HK dollars. (1 U. S. dollar equals 7.75 HK dollar)