Hong Kong stocks close 1.23 pct lower

HONG KONG, May 15 (Xinhua) -- Hong Kong stocks closed down 389.05 points, or 1.23 percent, to 31,152.03 points on Tuesday.

The benchmark Hang Seng Index traded between 31,152.03 and 31,573.18. Turnover totaled 105.21 billion Hong Kong dollars (about 13.40 billion U.S. dollars).