Hong Kong shares closed down 1.34 percent on concerns over interest rate hikes in the United States, however, Bank of China Limited (BOC) rose 15.25 percent over the initial public offering (IPO) price of 2.95 HK dollars on their debut on Hong Kong Exchanges and Clearing Limited (HKEx) on Thursday.

The BOC share closed at 3.40 HK dollars with a traded volume of 20.01 billion HK dollars (2.56 billion U.S. dollars). The traded volume accounted 37 percent of the Hong Kong stock market's total traded volume, setting a new record of the debut of newly listed companies.

The Hong Kong shares tumbled 212.62 points to close at 15,645. 27 and the Hang Seng China Enterprises Index also went down 179.43 points, or 2.69 percent, to close at 6,486.47 on Thursday.

BOC, one of the four biggest commercial banks in the Chinese mainland, raised 9.7 billion U.S dollars in its IPO, the world's biggest in six years.

BOC offered a total of 25.57 billion HK share in its global offering, including initially 1.28 billion H shares for the Hong Kong public offering and 24.29 billion H shares for the international offering.

BOC is a leader in non-interest income and foreign exchange business with strong product innovation capabilities.

BOC has a total asset of 4,000 billion yuan (498.69 billion U.S. dollars). It has over 11,000 branches and 580 ATMs in the Chinese mainland and about 600 overseas branches and offices.

Source: Xinhua