Hong Kong stocks closed lower on Tuesday in volatile trade despite the US equity markets registered record close overnight. The benchmark index opened 97 points higher which marked the intra-day high. It dipped in afternoon session after the Shanghai market index lost the 3,300 level.
The Hang Seng Index ended down 184 points or 0.7% to 24,702 off an intra-day high of 24,984 and day low of 24,663. The H-share index fell 268 points or 2.2% to 11,945.
Turnover rose slightly to HK$79.9 billion from HK$79.7 billion on Monday.
By market close, the northbound quota balance of the "Shanghai-HK Connect" program was RMB12.359 billion, while the southbound quota balance was RMB10.241 billion, accounting for 95% and 97.5% of the daily allowed quotas respectively.
Macau gaming authority said gross gaming revenues (GGR) in Macau plunged 48.6% to MOP19.5bn in February, the biggest decline since the data have been compiled. But casino operators were mostly higher. Galaxy Ent (00027) put on 2% to HK$40. It was the top blue chip winner. Sands China (01928) also rose 1.7% to HK$35.9. Wynn Macau (01128), which reports earnings tomorrow, ended up 2.42% to HK$21.15. MGM China (02282) soared 3.2% to HK$18.48.
Oil majors fell on lower crude prices on woes of rising inventory. PetroChina (00857) dipped 2.1% to HK$8.76. CNOOC (00883) and Sinopec (00386) slipped 1.1% to HK$11.06 and HK$6.43 respectively.
China telecom carriers were all lower. China Unicom (00762), which reports earnings report tomorrow, ended down 2.2% to HK$12.38. China Mobile (00941) also fell 2.2% to HK$102.5. China Telecom (00728) slid 3.4% to HK$4.87.
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