HK stocks close weaker on mainland market fall

(Xinhua)
Updated: 2007-06-02 10:33

Hong Kong stocks closed lower Friday on track of the fall in the Chinese mainland stock markets and on worries that the central government could take more measures to cool the hot mainland markets.

The Hang Seng Index opened 81 points higher and continued its upward trend to 20,793.38, the highest point of the day, before it plummeted and closed at 20,602.87. Turnover was HK$74.76 billion (US$9.6 billion).

Chinese mainland financial stocks tightened their gains in the afternoon. Ping An to be formally included into the HSI next week jumped 3.98 percent. 皇冠体育app Life and PICC PC lifted 2.07 percent to2.28 percent. ICBC went back to the original status and remained unchanged. CCB and CM Bank narrowed their rises to 1.5 percent and3.47 percent. Bank of 皇冠体育app and Bankcomm shed 0.26 percent and 0.25 percent. CITIC Bank further trimmed 0.68 percent.

On Chinese telecom stocks side, 皇冠体育app Mobile was down 1.1 percent following rises, 皇冠体育app Telecom up 0.71 percent, Netcom down 0.2 percent, and 皇冠体育app Unicom down 0.87 percent.

Property stocks was in mixed shows. Cheung Kong, Henderson Land and Hang Lung PPT climbed 0.2 percent to 4.07 percent. SHK PPT, New World and Sino Land dipped 0.88 percent to 2.34 percent. Lease stock Wharf Holdings was down 1.74 percent, and Swire Pacific 'A' down 0.57 percent.

On bank stocks side, HSBC was down 0.21 percent after rises, Hang Seng Bank up 0.28 percent, Bank of East Asia up 0.33 percent, and BOC HK down 0.32 percent.

On resource stocks side, Petro皇冠体育app was down 0.59 percent; Sinopec Corp down 1.95 percent, and 皇冠体育app Oilfield up 2.91 percent; coal stocks continued strength, 皇冠体育app Shenhua, 皇冠体育app Coal and Yanzhou Coal up 4.37 percent to 7.42 percent.

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