Hong Kong stocks decline on falling oil prices

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Source: Dukascopy Bank SA
Hong Kong shares plunged on Wednesday giving up early gains led by Wall Street, where the U.S. shares reached new record highs. The Hang Seng Index retreated 0.1% to 22,337.49 on turnover HK$52.28 billion. Losses in the index were also led by Chinese energy sector where oil prices fell. Downward trend in the gauge was restricted by utility group that was 0.5% up. The sector was lifted by China Resources Enterprise that advanced 1.7% to finish at HK$23.60. Tech shares posted second biggest rally in the benchmark index, led by Lenovo Group that was 1.5% up. Want Want China Holdings, Chinese snacks producer, added 1.2% to trade at HK$11.88, halting further decrease in consumer goods that erased 0.4%. On the downside, Tingyi Holding Corporation, a food distributor,  plummeted 5.8% to HK$ 20.25, putting a lid on consumer goods sector that posted second biggest decline among all blue chip companies. Belle International eased 3.8%, pacing losses in consumer services group. Cathay Pacific Air slipped 3.2%, halting further increase in industrials group that inched 0.2% up.


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