Hong Kong stocks lower

Hong Kong stocks fell on Tuesday as index heavyweight Tencent Holdings slumped to one-month low. At close of trade, the Hang Seng index was down 295.48 points or 1.01 percent at 28,842.80. The Hang Seng China Enterprises index fell 0.29 percent to 11,484.69.
The sub-index of the Hang Seng tracking energy shares rose 0.3 percent while the IT sector tumbled 3.03 percent, the financial sector was 0.9 percent lower and property sector dipped 0.67 percent The top gainer on Hang Seng was Wharf Holdings Ltd up 2.32 percent, while the biggest loser was Sunny Optical Technology Group Co Ltd which was down 5.61 percent. So far this year, the Hang Seng index is up 32.44 percent, while China's H-share index is up 22.6 percent. The Hang Seng has declined 0.13 percent this month.
The top gainers among H-shares were China Communications Construction Co Ltd up 1.85 percent, followed by New China Life Insurance Co Ltd gaining 1.55 percent and China Shenhua Energy Co Ltd up by 1.34 percent. The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd which was down 2.91 percent, People's Insurance Group of China Co Ltd off 2.5 percent and China Vanke Co Ltd down 1.4 percent.
About 1.48 billion Hang Seng index shares were traded, roughly 75.8 percent of the market's 30-day moving average of 1.96 billion shares a day. The volume traded in the previous trading session was 1.67 billion. The price-to-earnings ratio of the Hang Seng index was 13.29 as of the last full trading day while the dividend yield was 3 percent. So far this week, the market capitalisation of the Hang Seng index has risen by 1.93 percent to HK$19.05 trillion. The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was higher by 1.01 percent on the day at 5,124.83 points.