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Hong Kong shares tracked losses on Wall Street to close 579.76 points, or 2.77 percent, down on Friday at 20,375.49, below the 50-day moving average.
The Hang Seng Index Friday opened 2.74 percent down at 20,380. 23 after Thursday's public holiday. Losses of local stocks continued to expand and fluctuated between 20,470.92 and 20,323.59during the day.
Turnover rose to 56.92 billion HK dollars from Wednesday's 47. 22 billion HK dollars.
China Enterprises Index dropped 331.83 points, or 2.8 percent, to close at 11,526.32 points.
All four major stock categories lost. The finance sub-index was the biggest loser, ending 2.92 percent lower, followed by the properties, falling 2.87 percent, the commerce and industry, 2.69 percent, and the utilities, 1.49 percent.
Blue-chips closed down in general. Banking giant HSBC Holdings slid 3.73 percent to close at 86.55 HK dollars. It alone led to a loss of 120 points of the benchmark index.
Another heavyweight China Mobile lost 2.12 percent to 74 HK dollars. HKEx, the sole exchange operator in Hong Kong, fell 4.56 percent, to 134.1 HK dollars.
As for local properties, Cheung Kong, the flagship of Hong Kong's richest man Li Ka-shing, plunge 3.15 percent to 95.25 HK dollars. SHK Properties lost 3.42 percent to 110.3 HK dollars. Henderson Land dived 4.71 percent to 48.6 HK dollars.
Mainland-based commercial lenders mostly closed down. Bank of China dropped 2.94 percent to at 3.96 HK dollars. ICBC fell 2.57 percent to 5.69 HK dollars. CCB moved down 1.62 percent to 6.09 HK dollars.
Chinese insurance shares generally finished lower. China Life went 2.67 percent down to 32.85 HK dollars. Ping An fell 2.28 percent to 60.1 HK dollars. PICC P&C lost 2.44 percent to 5.2 HK dollars.
As for energy shares, PetroChina fell 2.74 percent to 8.52 HK dollars, off-shore oil producer CNOOC lost 1.73 percent to 10.24 HK dollars, while Sinopec Corp slid 3.34 percent to 6.37 HK dollars. (7.8 HK dollars = 1 U.S. dollar)
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