With the drop of oil prices, energy companies went down, leading the city's benchmark index to close lower on Monday at 18,528.51 after trading between 18,451.76 and 18,687.36.
Local shares went down 71.75 points, or 0.39 percent on Monday with turnover moving down to 50.04 billion HK dollars (6.46 billion U.S. dollars), from Friday's 62.53 billion HK dollars (8. 08 billion U.S. dollars).
PetroChina dropped 0.6 percent to 8.63 HK dollars and Cnooc fell 2.3 percent to 9.68 HK dollars on a decline in crude oil prices.
Light, sweet crude for August delivery dropped 1.07 U.S. dollars, or 1.5 percent lower, at 69.16 U.S. dollars a barrel on the New York Mercantile Exchange on Friday.
Chinese Estates dropped 7.6 percent to 14.08 HK dollars on its trading resumption Monday after the developer said that a share sale that could have raised 1.67 billion HK dollars was canceled as the sale price was not at the high end of the indicative range.
Sino Land fell 1.6 percent to 13.16 HK dollars after soaring 10. 9 percent since Wednesday, and Cheung Kong was down 0.9 percent at 92.35 HK dollars after it gained 7.1 percent in the past three sessions.
Conglomerate Citic Pacific bucked the trend, surging 6.7 percent to 16.28 HK dollars after Goldman Sachs added it to its conviction buy list, saying the company's valuation looks attractive compared with its Chinese peers.
Lianhua Supermarket jumped 11.1 percent to 12.98 HK dollars on news it will buy rival supermarket chain Hualian Supermarket Holdings from its controlling shareholder for 491.8 HK million dollars. The deal is subject to government approval. (One U.S. dollar equals 7.742 HK dollars)
Source: Xinhua
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