Hong Kong stocks edged down 0.2 percent Wednesday on profit taking after the previous session's 1003-point bounce, with the benchmark index failing to breach 30,000 points.
The blue chip Hang Seng Index fell 43.33 points, or 0.2 percent, to close at 29,333.53, fluctuating between 29,290.72 and 29,997.01 during the session. Turnover totaled 161.09 billion HK dollars (US$20.81 billion), up from 135.70 billion HK dollars (US$17.53 billion) Tuesday.
All the four major stock categories edged down, with the Utilities down 0.75 percent, the Commerce and Industry down 0.23, the Properties down 0.06 percent and the Finance down 0.04 percent.
ICBC, China's biggest lender by assets, rose 1.9 percent to 7.03 HK dollars on expectations of strong third-quarter earnings. The Chinese bank will report quarterly results Thursday.
Bank of Communications fell 2.1 percent to 12.88 HK dollars on profit-taking after chalking up a 19.4 percent gain Tuesday. China Construction Bank was up 1.9 percent at 7.33 HK dollars.
PetroChina, the most heavily traded stock on the exchange whose A-shares was to go public on November 5, slipped 0.2 percent to 19.40 HK dollars after days of gains.
China Netcom, the country's second largest fixed-line operator after China Telecom, was the biggest decliner among blue-chips. It fell 6.2 percent to 22.75 HK dollars.
China Mobile that reported satisfactory results was up 0.2 percent to 149.90 HK dollars.
On insurance stocks side, China Life was up 0.29 percent to 51. 50 HK dollars, while PICC P&C and Ping An retreated 1.08 percent and 0.28 percent.
(Xinhua News Agency October 25, 2007)
