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  HOME | Business & Economy (Click here for more)

Hong Kong Stocks Drop 1%

HONG KONG – The Hong Kong stock market fell on Monday by 1.09 percent, owing to a significant decline in energy and real estate stocks.

The Hang Seng index, which dropped 356.56 points, stood at 32,245.22 points at the end of the session.

The Hang Seng Enterprises, the index which includes Chinese stocks listed in Hong Kong, went down 0.43 percent to close at 13,479.83 points.

The energy sector was one of the worst hit of the day, with China’s biggest refinery, Sinopec, losing 3.01 percent, its biggest oil and gas producer PetroChina slipping 2.53 percent and CNOOC shares down by 2.21 percent.

Sun Hung Kai, one of the biggest real-estate developers by market value, fell by 2.25 percent, while CKH Holdings dropped 1.05 percent and Henderson Land lost 2.42 percent.

The day ended with trading worth HK$169.94 billion ($21.7 billion) and all four sub-indices in the red: commerce and industry losing 1.47 percent, finance dropping 0.64 percent, utilities slipping 1.25 percent and property dropping by 1.83 percent.

 

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