HK stocks end 0.94% lower

HONG KONG - Hong Kong stocks fell 0.94 percent on Friday.

The benchmark Hang Seng index closed down 175. 95 points to end at 18,502.34 points, after trading between 18,461. 18 and 18,797.94. Turnover totaled HK$53.45 billion ($6.89 billion).

The Hang Seng China Enterprises Index fell 120.67 points, or 1. 27 percent, to close at 9,352.79.

Four sub-indices all lost ground, with the Finance sub-index falling the most by 1.65 percent, followed by the Utility 1.08 percent, the Properties 0.57 percent and Commerce and Industry 0. 17 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, fell 0.3 percent to close at HK$63.00, while its local unit Hang Seng Bank ended 0.7 percent lower at HK$99. 85. Bank of East Asia, another Hong Kong's major bank, closed down 2.7 percent to HK$25.20. Local bourse operator HKEX decreased 2.0 percent to HK$106.20.

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, slid 4.0 percent to HK$5.28. ICBC, the world's largest bank by market value, retreated 4.9 percent at HK$4.26. Bank of China lost 3.2 percent to HK$2.76. Bank of Communications, China's fifth biggest lender measured by assets, dropped 4.7 percent at HK$4.88.

Local developers Hang Lung Properties fell 0.6 percent to HK$25.15. Henderson Land, another major developer in Hong Kong, lost 0.7 percent to HK$39.90, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, sank 1.6 percent to HK$88.05.

As for energy stocks, China's top refiner Sinopec was up 0.7 percent to HK$7.07. PetroChina, the country's largest oil and gas producer, moved up 0.8 percent to HK$10.12.