Hong Kong stocks close 1.79% lower

Hong Kong stocks ended 1.79 percent lower on Thursday, with the benchmark Hang Seng index falling 386.53 points to end at 21,182.16 points, after trading between 21,137.61 and 21,475.48. Turnover totaled 74.82 billion HK dollars (about 9.64 billion U.S. dollars). The Hang Seng China Enterprises Index rose 157.63 points, or 1. 68 percent, to close at 9,203.07. Four sub-indices all lost ground, with the Commerce and Industry sub-index falling the most by 2.09 percent, followed by the Properties 1.73 percent, the Finance 1.61 percent and the Utility 1.04 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 1.1 percent lower at 75.95 HK dollars, while its local unit Hang Seng Bank closed down 1.4 percent at 118. 30 HK dollars. Bank of East Asia, another Hong Kong's major bank, was down 1.3 percent at 29.95 HK dollars. Local bourse operator HKEX lost 1.8 percent to 113.20 HK dollars. Local developers Hang Lung Properties fell 1.9 percent to 20.20 HK dollars. Henderson Land, another major developer in Hong Kong, went down 1.8 percent to 40.70 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka- shing, was down 1.6 percent to 120.60 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, lost 1.8 percent to 4.92 HK dollars. ICBC, the world's largest bank by market value, retreated 1.6 percent to 4.34 HK dollars. Bank of China slid 1.6 percent to 3.04 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, went down 1.9 percent to 4.55 HK dollars. PetroChina, the country's largest oil and gas producer, decreased 2.8 percent to 7.62 HK dollars. (1 U.S. dollar equals 7. 761 HK dollars)