HONG KONG Jeff Carter Jersey , Dec. 5 (Xinhua) -- Hong Kong stocks dropped for a third straight day on Thursday, led by consumer and financial shares.
The benchmark Hang Seng Index fell 16.13 points, or 0.07 percent, to close at 23,712.57, after trading between a day high of 23,728.9 points and a day low of 23,563.21 points.
Turnover totaled 59.62 billion HK dollars (7.69 billion U.S. dollars) compared with Wednesday's 67.27 billion HK dollars.
The Hang Seng China Enterprises Index gained 26.96 points, or 0.24 percent, to close at 11,395.74 points.
Four major sub-indices closed mixed. The Utilities fell the most by 0.54 percent. Both of the Finance and the Properties retreated 0.44 percent, while the Commerce and Industry rose 0.51 percent.
Consumer shares led the declines. Belle International, a leading shoe retailer, gave up 1.94 percent at 9.1 HK dollars. Hengan International closed at 95.25 HK dollars, down 0.37 percent.
Financial stocks remained sluggish. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, ended 1.41 percent lower at 85.2 HK dollars. Its local unit Hang Seng Bank notched a 0.63-percent decrease to close at 126.2 HK dollars.
Mainland-based lenders and insurers joined the declines. Bank of China, the country's third largest lender, slid 0.96 percent to close at 25.7 HK dollars. China Life Insurance dropped 0.39 percent to end at 25.45 HK dollars, while Ping An Insurance slid 0.2 percent at 75.05 HK dollars.
Property shares continued to post lackluster performance. Sun Hung Kai, HK's largest property developer by market value, fell 0.15 percent at 98 HK dollars. Henderson, another leading property developer, dipped 0.78 percent at 44.55. Cheung Kong properties, a powerful HK-based developer controlled by billionaire Li Ka-shing, edged 0.24 percent lower to close at 123.1 HK dollars.
Bucking the trend, telecommunications stocks rise after the government awarded fourth-generation mobile licenses to the country's three major mainland telecommunications network operators, paving the way for the much-anticipated alliance between China Mobile and Apple in the world's biggest smartphone market.
China Mobile climbed 0.53 percent to end at 84.65 HK dollars.
Zhang Zhijun (L), director of the Taiwan Affairs Office of China's State Council, meets with Taiwan's mainland affairs chief Wang Yu-chi in Taipei, southeast China's Taiwan, June 25, 2014. It was their second meeting this year. Wang visited the mainland in February. (XinhuaWang Shen) Zhang Zhijun (L), director of the Taiwan Affairs Office of China's State Council, meets with Taiwan's mainland affairs chief Wang Yu-chi in Taipei, southeast China's Taiwan, June 25, 2014. It was their second meeting this year. Wang visited the mainland in February. (XinhuaHe Junchang) Zhang Zhijun, director of the Taiwan Affairs Office of China's State Council, meets with Taiwan's mainland affairs chief Wang Yu-chi in Taipei, southeast China's Taiwan, June 25, 2014. It was their second meeting this year. Wang visited the mainland in February. (XinhuaWang Shen) Zhang Zhijun (L), director of the Taiwan Affairs Office of China's State Council, meets with Taiwan's mainland affairs chief Wang Yu-chi in Taipei, southeast China's Taiwan, June 25, 2014. It was their second meeting this year. Wang visited the mainland in February. (XinhuaHe Junchang) Zhang Zhijun (C), director of the Taiwan Affairs Office of China's State Council, speaks at a meeting with Taiwan's mainland affairs chief Wang Yu-chi in Taipei, southeast China's Taiwan, June 25, 2014. It was their second meeting this year. Wang visited the mainland in February. (XinhuaHe Junchang)
TAIPEI, June 25 (Xinhua) -- The Chinese mainland's chief of Taiwan affairs Zhang Zhijun on Wednesday underscored his long-waited trip to Taiwan, and called for continuous efforts to boost cross-Strait ties.
"My flight from Beijing to Taipei took me less than three hours. But it took us 65 years to make that flight possible," Zhang said when meeting with Wang Yu-chi, director of Taiwan's Mainland Affairs Council, at a hotel near the airport.
He added that mutual visits made by himself and Wang within six months and the setting up of a communication mechanism between cross-Strait affairs authorities on both sides of the Taiwan Strait had been deemed "unimaginable" in earlier years.
Zhang is the first director of the State Council Taiwan Affairs Office to visit the island. Wang Yu-chi visited the mainland in February.
While extending his welcome to Zhang, Wang Yu-chi said cross-Strait relations had witnessed "twists and turns", and even the smallest progress had not come easily. His meetings with Zhang over the last six months were the result of shelving differences and seeking win-win solutions. The meetings are the best proof of steady progress towards peace and stability.
Zhang expressed hope that both sides could further enhance mutual political trust, step up communication and cooperation, and boost grass-root exchanges between people, especially the younger generation, from both sides of the Strait.
Comparing cross-Strait ties to a boat sailing against the current, Zhang urged both sides to "keep forging ahead lest risk being left lagging behind."
"As long as people on both sides of the Taiwan Strait work together, we will be able to overcome the current difficulties and attain new development in cross-Strait ties which will benefit all," he said.
According to the schedule released earlier, Zhang will spend four days on the island, paying visits to New Taipei City, Taichung, Kaohsiung and Changhua County.
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