Hong Kong share prices plunged 387.81 points, or 1.9 percent, to close at 20,025.58 Thursday, with turnover rocketing to 76.5 billion HK dollars, the second highest turnover in record.

HK benchmark index opened at 20,415,67 and reached the day's high of 20,463.18 in the morning session, and then it began to fall. HK blue chips saw their losses widen in afternoon trading, with the benchmark index breaking below the important psychological level of 20,000 mark, hitting 19,950 at one time

Heavyweight China Mobile fell 4 percent to 67.5 HK dollars, HSBC inched down 0.5 percent to 144 HK dollars, Hutchison slipped three percent to 79 HK dollars. Chinese mainland stocks also recorded huge losses, with H-share index nose-diving 418.41 points to 10,347.67.

Analysts said that the fall was mainly due to profit-taking after the market made strong gains for several days consecutively. And investors also turned cautious following the release of the minutes of the last US Federal Reserve meeting, which showed growing concern at the central bank about the severity of the pullback in the US housing sector.

Source: Xinhua