Hong Kong share prices closed 0.93 percent lower Wednesday, the Hang Seng index closed down 215.38 points at 22,841.92, off a high of 23,035.80 and low of 22,782.63.

The dealers said that the worries came from the possible economic tightening measures in China as the authorities prepare to release key economic data, including June inflation and second-quarter GDP figures.

Among major blue chips, China Mobile fell 1.20 HK dollars or 1.31 percent at 90.20 and Hutchison Whampoa lost 0.75 HK dollars or 0.89 percent at 83.55, while HSBC was up 0.10 HK dollar or 0.07 percent at 145.70.

China financials were mixed, with Bank of China down 1.93 percent at 4.06 HK dollars, China Life down 1.13 pct at 30.55 and China Merchants Bank up 0.72 pct at 27.85.

ICBC gained 0.02 HK dollars or 0.42 percent to 4.81 after Citigroup raised its target price on the lender to 5.80 HK dollars from 5.00, but China Construction Bank ended down 2.40 percent at 5.70.

In the oil sector, PetroChina was down 0.38 HK dollar or 3.08 percent at 11.96 and CNOOC fell 0.15 HK dollar or 1.55 percent to 9.52. Sinopec was down 3.80 pct at 8.35 after releasing production figures for the first half.

Metals firms were lower after news that China will increase resources tax levied on lead, zinc, copper and tungsten ores from August 1.

Jiangxi Copper was down 1.98 percent at 14.82, Hunan Nonferrous Metals fell 0.01 HK dollars or 0.20 percent to 5.09 and Lingbao Gold gave up 0.09 HK dollar or 1.47 percent at 6.04.

Property stocks were hit by profit-taking, with Sun Hung Kai down 1.20 HK dollars or 1.21 percent at 97.60, Henderson Land down 1.05 HK dollars or 1.91 percent at 53.90 and Sino Land down 2.43 percents at 16.08.

Local banks were mixed, with Hang Seng Bank up 1.30 HK dollars or 1.19 percents at 110.30, Bank of East Asia down 0.35 HK Dollars or 0.75 percent at 46.30 and BOC Hong Kong down 0.14 HK dollars or 0.71 percent at 19.56.

Turnover was at 84.07 billion HK dollars (US$ 10.78 billion).

(Xinhua News Agency July 19 2007)