Hong Kong stocks close 1.68% lower

Hong Kong stocks ended 1.68 percent lower on Monday, with the benchmark Hang Seng index falling 389.25 points to end at 22,804.81 points, after trading between 22,802.10 and 23,393.81. Turnover totaled 58.01 billion HK dollars (about 7.48 billion U.S. dollars).
The Hang Seng China Enterprises Index fell 197.35 points, or 1. 9 percent, to close at 10,198.10.
Four sub-indices all lost ground, with the Finance sub-index falling the most by 1.83 percent, followed by the Properties 1.73 percent, the Utility 1.51 percent and the Commerce and Industry 1. 51 percent as well.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed 1.2 percent lower at 79.80 HK dollars, while its local unit Hang Seng Bank closed down 0.9 percent at 125. 80 HK dollars. Bank of East Asia, another Hong Kong's major bank, was down 1.4 percent at 31.70 HK dollars. Local bourse operator HKEX lost 1.4 percent at 142.50 HK dollars.
Local developers Hang Lung Properties closed 0.4 percent lower at 23.55 HK dollars. Henderson Land, another major developer in Hong Kong, declined 2.7 percent to 45.35 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, was down 1.8 percent to 133.80 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 2.22 percent to 5. 72 HK dollars. ICBC, the world's largest bank by market value, fell 1.8 percent to 4.84 HK dollars. Bank of China decreased 2.6 percent to 3.38 HK dollars. Bank of Communications, China's fifth biggest lender measured by assets, ended down 1.3 percent at 5.26 HK dollars.
PetroChina, the country's largest oil and gas producer, retreated 0.5 percent to 9.66 HK dollars. (1 U.S. dollar equals 7. 761 HK dollars)