Hong Kong market closes lower on profit booking

Hong Kong stock market finished the session lower after wiping out intraday gain on Friday, 28 August 2015, dragged down by profit taking pressure late afternoon. Most of the blue-chip declined, with banks and financials led losses which reported virtually no profit growth in the first-half and mounting bad loans, adding to worries that the economy may be at risk of a sharper slowdown than earlier expected. The Hang Seng Index ended lower by 226.15 points, or 1.04%, at 21612.39 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, sank 112.88 points, or 0.54%, to 9750.73 points. Turnover reduced to HK$108.9 billion from HK$134.5 billion on Tuesday. Turnover soared to HK$122.43 billion from HK$109 billion on Wednesday.

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