Trends of Stock Market in Hong Kong HK

Hong Kong shares closed lower on Thursday, ending the three-session winning streak, following the declines in Wall Street overnight as uncertainty lingered over the prospects for Greece.

Hong Kong stocks fell 87.95 points, or 0.41 percent, to close at 21,277.28 on Thursday. The benchmark Hang Seng Index traded between 21,157.55 and 21.317.72. Turnover totaled 62.83 billion HK dollars (about 8.10 billion U.S. dollars).

The Hang Seng China Enterprises Index fell 108.37 points, or 0.93 percent, to close at 11,577.36.

Three sub-indices lost ground, with the Finance sub-index falling the most by 0.78 percent, followed by the Properties (0.44 percent) and the Commerce and Industry (0.03 percent). The Utility rose 0.07 percent.

Financial stocks led the loss, tracking declines in regional peers after Moody’s Investors Service placed various ratings of 114 financial institutions in Europe on review for a possible downgrade, citing pressures from a difficult operating environment in the region.

Heavyweight HSBC fell 0.6 percent to 69.35 HK dollars, China Construction Bank declined 1.1 percent to 6.39 HK dollars and Bank of China slid 1.5 percent to 3.31 HK dollars.

Local developers also fell after their recent rally. Henderson Land was down 0.3 percent to 48.00 HK dollars after it gained 13.3 percent in the past three sessions, while Cheung Kong slid 0.3 percent to 111.90 HK dollars after it rose 7.1 percent in the previous three sessions.

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