A 6.7-percent-slump on the Chinese mainland's market dragged Hong Kong stocks to close 1.86 percent lower on Monday, with the benchmark Hang Seng Index fell 4 percent over the month and stopped its uptrend of consecutive monthly gains since March.
The blue chip index opened with its intraday high at 19,827.13, fell to its intraday low at 19,592.07 during the afternoon session and tightened its losses to close at 19,724.19, down 374.43 points, or 1.86 percent.
Turnover rose to 67.32 billion HK dollars (US$8.64 billion), from last Friday's 56.07 billion HK dollars (US$7.19 billion).
Traders said Hong Kong shares will continue to track Chinese mainland's markets in the short term. They put strong near-term support for the Hang Seng Index around 18,800.
The four major sub-indices all lost ground. The properties- index fell most at 3.84 percent, followed by the commerce and industry at 2.46, the utilities at 1.55 percent, and the finance at 1.08 percent.
Market heavyweight HSBC Holdings closed 1.14 percent lower at 82.2 HK dollars, while local unit Hang Seng Bank fell 1.52 percent at 110.1 HK dollars.
China Mobile, the leading mobile carrier on the Chinese mainland, fell 2.9 percent at 75.4 HK dollars.
China Unicom bucked the trend to rise 2.1 percent to 10.90 HK dollars after posting a better-than-expectations first-half result as well as its iPhone deal with Apple.
Oil firm PetroChina fell 2.8 percent to 8.56 HK dollars despite reporting Friday a better-than-expected 7 percent decline in first- half net profit.
Coal producer Shenhua Energy managed a 0.6 percent increase to 31.25 HK dollars after posting a 14 percent rise in first-half net profit.
China Life was down 1.65 per cent at 32.7 HK dollars. Ping An was down 2.19 per cent at 58 HK dollars. Bank of China was down 1. 05 per cent at 3.77 HK dollars. ICBC was up 0.57 per cent at 5.29 HK dollars.
HKEx, the sole exchange operator, was down 3.92 per cent at 135 HK dollars.
(Xinhua News Agency September 1, 2009)
