HONG KONG, Aug. 28 (Xinhua) -- Hong Kong stocks fell 350.12 points, or 1.6 percent, to close at 21,524.65 points on Wednesday.
The benchmark Hang Seng Index traded between 21,655.24 and 21, 465.72. Turnover totaled 63.10 billion HK dollars (about 8.13 billion U.S. dollars).
The Hang Seng China Enterprises Index dived 2.23 percent, or 223.04 points, to close at 9,765.19.
All of the four major sub-indices lost ground, with the Properties sub-index falling the most at 1.75 percent, followed by the Finance at 1.63 percent, the Commerce & Industry at 1.56 percent, the Utilities at 1.34 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, tumbled 1.32 percent to close at 82 HK dollars. Its local unit Hang Seng Bank plunged 1.56 percent to close at 119.80 HK dollars. Local bourse operator HKEX lost 1.73 percent to end at 119.10 HK dollars.
Local developers ended lower. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, fell 0. 37 percent at 107.70 HK dollars. SHK Properties went down 1.05 percent to end at 99.05 HK dollars. Henderson Land, another major developer in Hong Kong, dived 2.16 percent to 45.25 HK dollars.
Mainland lenders ended down. Industrial and Commercial Bank of China, the world's largest bank by market value, dropped 1.75 percent to close at 5.05 HK dollars. China Construction Bank, the country's second largest lender, plunged 2.09 percent at 5.62 HK dollars and Bank of China tumbled 2.42 percent to 3.23 HK dollars.
PetroChina, the nation's biggest oil refiner, sharply fell 4.39 percent to 8.27 HK dollars. Sinopec, the biggest oil producer, lost 1.38 percent to end at 5.73 HK dollars. (1 U.S. dollar = 7.76 HK dollars)