Hong Kong Market drops 0.77%

The Hong Kong stock declined on Wednesday, 24 August 2016, as profit booking triggered on fear recent gains were excessive relative to earnings prospects, with Chinese banks leading declines. The benchmark Hang Seng Index dropped 178.15 points, or 0.77%, to 22820.78 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, declined 79.90 points, or 0.83%, to 9507.09. Turnover increased to HK$62 billion from HK$60.8 billion on Tuesday.

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