HK stocks down 0.88 % as heavyweights fall

Hong Kong stocks slipped on Monday, as heavyweights like HSBC and CCB fell. The benchmark Hang Seng Index moved down 189 points to close at 21,217.86 points, after trading between a day high of 21,589.02 points and a day low of 21,076.52 points. Turnover shrank to 61.67 billion HK dollars (7.96 billion U.S. dollars) from Friday's 64.58 billion HK dollars. The H-Share Index moved down 149.61 points, or 1.28 percent, to end at 11,540.23 points. Banking giant HSBC, releasing its 2011 annual results after trading, edged down 1.21 percent to close at 69.6 HK dollars. China Mobile, China's dominant mobile carrier ended down 0.31 percent at 81.2 HK dollars. Mainland lenders listed in Hong Kong dipped. ICBC, China's largest bank by market value, edged down 0.36 percent to close at 5.52 HK dollars; CCB, the country's second largest lender by market capitalization, decreased 1.7 percent to close at 6.38 HK dollars; BOC, one of the "big four", ended down 1.5 percent at 3. 29 HK dollars. Local property developers performed not well. Sun Hung Kai, HK' s largest property developer by market value, moved down 1.68 percent to close at 117.4 HK dollars; Cheung Kong properties, owned by billionaire Li Ka-shing, edged down 1.8 percent to 109 HK dollars. PetroChina, the country's largest oil and gas producer, closed down 0.52 percent to 11.5 HK dollars. Sinopec, China's top refiner, moved down 1.38 percent to 8.58 HK dollars. China Life, one of the world's largest life insurers by market value, ended down 2.89 percent at 23.5 HK dollars. (One U.S. dollar is equivalent to 7.75 HK dollars)