Hong Kong stocks close 0.04% higher

Hong Kong stocks ended 0.04 percent higher on Friday, with the benchmark Hang Seng index rising 8.78 points to end at 22,836.96 points, after trading between 22,709.52 and 22,986.70. Turnover totaled 76.97 billion HK dollars (about 9.92 billion U.S. dollars). The Hang Seng China Enterprises Index fell 66.35 points, or 0. 67 percent, to close at 9,891.42. Two sub-indices gained ground, with the Properties sub-index rising by 0.86 percent, and the Commerce and Industry 0.07 percent. The Utility fell 0.58 percent, while the Finance lost 0.09 percent. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 0.4 percent higher at 82.25 HK dollars, while its local unit Hang Seng Bank closed down 0.1 percent at 125. 80 HK dollars. Bank of East Asia, another Hong Kong's major bank, was up 0.3 percent at 32.15 HK dollars. Local bourse operator HKEX lost 0.6 percent to 120.40 HK dollars. Local developers Hang Lung Properties climbed 0.2 percent at 21. 55 HK dollars. Henderson Land, another major developer in Hong Kong, went up 0.7 percent to 43.50 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, was up 0.9 percent to 121.60 HK dollars. 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 0.6 percent to 5.33 HK dollars. ICBC, the world's largest bank by market value, retreated 0.6 percent at 4.65 HK dollars. Bank of China decreased 0.9 percent to 3.26 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, went down 1.2 percent to 4.98 HK dollars. PetroChina, the country's largest oil and gas producer, added 0. 4 percent to 8.18 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)