Hong Kong stocks close 0.08% lower

Hong Kong stocks dropped 17.95 points, or 0.08 percent, to close on Friday at 22,712.91 points. The benchmark Hang Seng Index traded between 22,718.07 and 22, 555.59. Turnover totaled 48.38 billion HK dollars (6.24 billion U. S. dollars). The Hang Seng China Enterprises Index ended down 15.89 points, or 0.16 percent, to close at 9,955.35 points. Three of the four sub-indices lost ground. The Properties and Commerce & Industry sub-indices dropped 0.02 percent and 0.47 percent respectively. The Utilities slid 0.21 percent while Finance rose 0.28 percent. Property companies retreated. China Resources Land Limited was down 1.8 percent to 15.3 HK dollars. Sun Hung Kai, local largest property developer by market value, dipped 0.2 percent to 101.9 HK dollars. Most of the blue chips went down. Cathay Pacific Airways Limited dropped 2.1 percent to 14.94 HK dollars. Cosco Pacific Limited lost 1.35 percent to 10.22 HK dollars. Bucking the trend, Lenovo Group Limited gained 1.13 percent to 8.99 HK dollars. Sands China Ltd. rose 0.88 percent to 57.5 HK dollars.