Hong Kong stocks end 0.34% lower

Hong Kong stocks fell 0.34 percent on Thursday. The benchmark Hang Seng index closed down 79. 93 points to end at 23,177.00 points, after trading between 23,134. 78 and 23,298.13. Turnover totaled 79.04 billion HK dollars (about 10.20 billion U.S. dollars). The Hang Seng China Enterprises Index fell 167.29 points, or 1. 41 percent, to close at 11,681.96. Three sub-indices lost ground, with the Finance sub-indice falling the most by 0.62 percent, followed by the Commerce and Industry 0.12 percent and the Utility 0.06 percent. The Properties rose 0.04 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, fell 0.3 percent to 86.15 HK dollars, while its local unit Hang Seng Bank closed 0.7 percent lower at 125.70 HK dollars. Bank of East Asia, another Hong Kong's major bank, closed flat at 31.65 HK dollars. Local bourse operator HKEX lost 0. 8 percent at 144.00 HK dollars. Local developers Hang Lung Properties ended up 1.7 percent at 30.05 HK dollars. Henderson Land, another major developer in Hong Kong, declined 0.7 percent to 53.40 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, closed up 0.3 percent to 123.40 HK dollars. As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, decreased 1.2 percent at 6.43 HK dollars. ICBC, the world's largest bank by market value, retreated 1.4 percent at 5.63 HK dollars. Bank of China closed down 0.5 percent to 3.77 HK dollars. Bank of Communications, China 's fifth biggest lender measured by assets, went down 3.1 percent to 6.20 HK dollars. As for energy stocks, China's top refiner Sinopec lost 2.5 percent to 8.65 HK dollars. PetroChina, the country's largest oil and gas producer, ended up 0.9 percent at 10.72 HK dollars. (1 U.S. dollar equals 7.751 HK dollars)