The hands of a correct clock coincide every $65 \frac{5}{11}$ minutes. The watch is gaining time. The gain in 64 minutes is $(65 \frac{5}{11} - 64) = 1 \frac{5}{11}$ minutes. The total gain in a day (24 hours) calculates to $32 \frac{8}{11}$ minutes. [The question asks how much it loses, but it is gaining].