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Hang Seng Index down 2.74% on Mon

Published: 27 Apr 2009 01:23:43 PST

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Apr. 27, 2009 (China Knowledge) - Hong Kong stocks fell on Monday, with the benchmark Hang Seng Index decreasing 418.43 points or 2.74% to close at 14,840.42.

Mainboard turnover rose to HK$53.012 billion.

The Hang Seng China Enterprise Index, which tracks the overall performance of 43 Chinese mainland state-owned enterprises on the Hong Kong Stock Exchange, slipped 337.75 points or 3.76% to 8,641.43 points.

Market heavyweight HSBC Holdings Plc<0005><HBC>, which accounts for the largest weighting for the Hang Seng Index, decreased 1.80% to HK$51.75.

Pharmaceutical stocks led the upward trend on Monday. China Pharmaceutical Group Ltd<1093> soared 13.15% to HK$4.30. The United Laboratories International Holdings Ltd<3933> surged 10.00% to HK$3.19. Guangzhou Pharmaceutical Company Ltd<600332><0874> soared 13.38% to HK$3.22. China Shineway Pharmaceutical Group Ltd<2877> went up 1.51% to close at HK$4.70. Shandong Luoxin Pharmacy Stock Co Ltd<8058> increased 8.69% to HK$2.50.

Airline stocks were decliners. Air China Ltd<601111><0753> plunged 12.75% to HK$3.49. China Eastern Airlines Co Ltd<600115><0670><CEA> went down 8.51% and reached HK$1.29. China Southern Airlines Ltd<600029><1055><ZNH> plummeted 14.54% to HK$1.88. Cathay Pacific Airways Ltd<0293> went down 7.97% to HK$8.42.

Zijin Mining Group Co Ltd<601899><2899> decreased 3.05% to HK$6.04. Zhaojin Mining Industry Company Ltd<1818> slid 2.38% to HK$10.64. Lingbao Gold Company Ltd<3330> went down 5.86% to HK$2.89. Sino Gold Mining Limited<1862> swelled 2.71% to HK$30.30.

Property stocks ended lower today. SOHO China Ltd<0410> fell 2.89% to HK$3.35. Sun Hung Kai Properties<0016> went down 3.72% to close at HK$78.95. Cheung Kong (Holdings) Ltd<0001> declined 3.15% to HK$76.70. Hutchison Whampoa Ltd<0013> slid 2.63% to HK$42.45. Hopson Development Holdings Ltd<0754> slipped 7.31% to HK$5.45. Henderson Land Development Co Ltd<0012> dipped 1.40% to HK$35.15. Agile Property Holdings Ltd<3383> retreated 5.56% to HK$5.26.

Oil stocks were also weak. CNOOC Ltd<0883><CEO> shrank 2.85% to HK$8.50. Sinopec<600028><0386><SNP>, the largest refiner in Asia by capacity, shed 2.17% to HK$5.84. PetroChina<601857><0857><PTR>, the country's largest oil producer, sank 2.49% to HK$6.64.