Hong Kong shares once tested an all-time high 23,750.25 during opening but retreated 0.91 percent Tuesday as investors opted to cash in over the disappointing home sales figures in the United States Wall Street.
The benchmark Hang Seng Index opened at all-time high 23,750.25 and headed downwards during the trading before losing 213.97 points or 0.91 percent to close at 23,363.76.
The China Enterprise Index, which tracks the performance of 41 Chinese mainland companies listed in Hong Kong, at one time climbed to all-time high 14,301.74 during the morning session but fell 40.22 points or 0.29 percent to close Tuesday's trading at 13, 949.65.
Turnover edged down to 122.94 billion HK dollars (US$15.78 billion) from Monday's record high 126.35 billion HK dollars (US$16.21 billion).
China Life, the biggest insurer in China, outpaced the market by soaring 5.69 percent to 37.15 HK dollars, boosting the index by 59.86 points but was offset by other shares' losses. The company reported Monday its half-year profit has leaped forward by 160 percent to 23.29 billion yuan (about US$3 billion).
Aluminum Corp of China or Chalco, the country's largest aluminum refiner, continued to soar 5.61 percent to 22.6 HK dollars after it rocketed 31.94 percent Monday. Chalco's trading price in the Shanghai Stock Exchange is about twice its price in Hong Kong.
Jiangxi Copper soared 5.55 percent to 20.35 HK dollars after its 26.01 percent rush Monday.
Cosco Pacific continued to surge 6.16 percent to 21.55 HK dollars after the company said it has entered into an agreement to sell its entire investment in Bauhinia 97 Ltd. whose sole asset is a 20 percent stake in Chong Hing Bank Ltd. for 2.1 billion HK dollars.
China Cosco, the country's largest shipping conglomerate, once climbed to all-time high 16.5 HK dollars before inching up 0.25 percent to 16.04 HK dollars.
China Mobile, the country's biggest handset operator and the market' top company measured by capitalization, wend down 0.65 percent to 99.95 HK dollars after it stood for the first time above 100 HK dollars Monday.
CNOOC, China's largest offshore oil producer, lost 3.65 percent to 9.23 HK dollars, evaporating the index by 36.62 points.
HSBC, the market's second largest stock measured by capitalization, fell 0.92 percent to 139.8 HK dollars, dragging the index by 36.35 points.
SHK Properties, one of Hong Kong's largest house developers, slumped 3.38 percent to 100.1 HK dollars.
Industrial and Commercial Bank of China, the country's biggest lender, lost 3.15 percent to 4.92 HK dollars.
Bank of China, the country's second largest lender, dropped 2.74 percent to 3.91 HK dollars.
China Construction Bank, the country's third-largest bank moved down 0.81 percent to 6.1 HK dollars.
PetroChina, or China's largest oil producer, lost 1.21 percent to 11.46 HK dollars.
Sinopec, Asia's biggest oil refiner, went down 1.18 percent to 8.37 HK dollars.
(Xinhua News Agency August 29 2007)
