Hong Kong stocks close 0.75% lower - May 9

HONG KONG - Hong Kong stocks lost 0.75 percent on Wednesday. The benchmark Hang Seng index closed down 154.11 points to end at 20,330.64 points, after trading between 20,257.61 and 20,371.66. Turnover totaled HK$55.12 billion ($7. 10 billion).

The Hang Seng China Enterprises Index fell 169.11 points, or 1. 61 percent, to close at 10,356.64.

Four sub-indices all lost ground, with the Properties sub-index falling the most by 0.97 percent, followed by the Commerce and Industry 0.96 percent, the Utility 0.72 percent and he Finance 0. 54 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, rose 0.7 percent to close at HK$69.50, and its local unit Hang Seng Bank ended 0.1 percent higher at HK$106.50 . Bank of East Asia, another Hong Kong's major bank, fell 0.5 percent to HK$28.90. Local bourse operator HKEX declined 1.9 percent to HK$118.90.

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, decreased 1.6 percent to HK$5.70. ICBC, the world's largest bank by market value, ended down 1.0 percent at HK$4.97. Bank of China retreated 0.7 percent to HK$3.05. Bank of Communications, China's fifth biggest lender measured by assets, slid 1.0 percent at HK$5.58.

Local developers Hang Lung Properties ended down 0.9 percent to HK$27.05. Henderson Land, another major developer in Hong Kong, lost 1.4 percent to HK$41.30, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, fell 1.5 percent to HK$99.35.

As for energy stocks, China's top refiner Sinopec dropped 0.4 percent to HK$7.87. PetroChina, the country's largest oil and gas producer, moved down 1.3 percent to HK$10.74.