HK stocks end 1.08% lower

HONG KONG -- Hong Kong stocks fell 237.76 points, or 1.08 percent, to close at 21,806.61 on Tuesday.

The benchmark Hang Seng Index traded between 22,085.70 and 21, 747.47. Turnover totaled HK$56.75 billion ($7.31 billion).

The Hang Seng China Enterprises Index fell 165.66 points, or 1. 56 percent, to close at 10,425.09.

All of the four sub-indices lost ground, with the Commerce & Industry sub-indice losing the most by 1.24 percent, followed by the Utilities at 1.06 percent, the Finance at 1 percent and the Properties at 0.93 percent.

Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, fell 1.17 percent to HK$80.05. Its local unit Hang Seng Bank closed down 0.48 percent at HK$124.40. Bank of East Asia, another Hong Kong's major bank, closed down 0.33 percent at HK$29.90. Local bourse operator HKEX lost 1.25 percent at HK$126.70.

Local developers shed. Hang Lung Properties dropped 2.01 percent at HK$29.20. Henderson Land, another major developer in Hong Kong, decreased 0.09 percent to HK$56.75. Sun Hung Kai Properties lowered 0.71 percent at HK$112.20. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, closed down 0.6 percent to HK$116.10.

Mainland-based financial stocks ended lower. China Construction Bank fell 1.29 percent at HK$6.14. ICBC lost 0.76 percent at HK$5.21. Bank of China lowered 1.71 percent to HK$3.44. Bank of Communications fell 1.03 percent at HK$5.77.

As for energy stocks, China's top refiner Sinopec lost 2.6 percent at HK$8.26. PetroChina ended down 1.16 percent at HK$9.41. CNOOC ended down 0.58 percent at HK$13.78.