Hong Kong stocks close 0.04% lower

Hong Kong stocks ended lower on Monday with the benchmark Hang Seng index dropping 0.04 percent, or 10.46 points to end at 25,404.81 points.

The benchmark Hang Seng Index traded between 25,298.96 and 25, 540.31. Turnover totaled 84.94 billion HK dollars (10.96 billion U. S. dollars).

The Hang Seng China Enterprises Index dropped 76.22 points, or 0.64 percent, to close at 11,773.92.

Two sub-indices gained ground, with the Utilities sub-index rising the most by 0.29 percent, followed by the Commerce and Industry 0.14 percent, while Properties dropped 0.3 percent and the Finance was down 0.16 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, rose 0.7 percent at 70.8 HK dollars, while its local unit Hang Seng Bank closed up 0.07 percent to 154.5 HK dollars. Local bourse operator HKEX went down 1.45 percent at 231. 2 HK dollars.

Local developers Hang Lung Properties dropped 1.1 percent to 22. 5 HK dollars. Henderson Land, another major developer in Hong Kong, lost 0.9 percent to 53.15 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, retreated 0.09 percent to 115 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, went down 0.3 percent to 6.52 HK dollars. ICBC, the world's largest bank by market value, was down 0.35 percent to 5.67 HK dollars. Bank of China slid 0.22 percent to 4.46 HK dollars.

PetroChina, the country's largest oil and gas producer, closed 0.5 percent lower at 7.97 HK dollars. (1 U.S. dollar equals 7.75 HK dollars)