Hong Kong stocks plunged 1.34 percent Friday along with Asian markets following the U.S. stocks' deepest slump in two months on Thursday in response to disappointing retail sales and trade deficit in the United States.

The benchmark Hang Seng Index fell 276.78 points, or 1.33 percent, to open at 20,469.49 and fluctuated in a narrow range between intra-day high of 20,552.56 and intra-day low of 20,420.12 before losing 278.06 points, or 1.34 percent, to close at 20,468.21.

Turnover rose slightly to 60.69 billion HK dollars (7.77 billion U.S. dollars) from Thursday's 60.53 billion HK dollars (7.76 billion U.S. dollars).

Among 38 Hang Seng Index constituent shares, 37 dropped and PCCW, Hong Kong's largest fixed-line telephone operator, was the only stock that remained unchanged at 4.94 HK dollars.

HSBC, the largest stock measured by capitalization, went down 0.68 percent to 145 HK dollars, downing the entire market by 28 points.

Another market heavyweight China Mobile, the country's largest mobile phone operator, slumped 1.39 percent to 70.95 HK dollars, dragging the market by 44.91 points.

Property sectors were all weak. Cheung Kong, one of Hong Kong's largest house developer controlled by tycoon Li Ka-shing, lost 1.16 percent to 102.6 HK dollars, pulling down the market by 9.08 points.

Hutchison, another group controlled by Li Ka-shing, plunged 2.56 percent to 76.1 HK dollars, pulling down the entire market by 24.37 points. New World Development plummeted 3.42 percent to 19.8 HK dollars. Sino Land fell sharply by 2.91 percent to 17.36 HK dollars. Hang Lung shrank 2.41 percent to 24.25 HK dollars. SHK Properties retreated 0.95 percent to 93.7 HK dollars. Henderson Land went down 0.95 percent to 53.25 HK dollars.

China Enterprise Index, or H-shares reflecting those stocks of enterprises of the Chinese mainland, lost 1.65 percent to 10,392.21 as Shanghai and Shenzhen stocks on the Chinese mainland softened.

China's banking and insurers sectors all dropped. ICBC, China's largest lender, slumped 2.09 percent to 4.21 HK dollars. China Construction Bank lost 1.24 percent to 4.77 HK dollars. China Life, the country's largest life insurer, went down 1.99 percent to 24.6 HK dollars. Bank of China declined 1.53 percent to 3.86 HK dollars.Ping An plummeted 2.84 percent to 44.45 HK dollars. China Merchants Bank dived 4.7 percent to 20.3 HK dollars as investors opted to lock in profits after days of surge.

Oil sectors' performance were weak. PetroChina, the country's largest oil producer, fell 0.41 percent to 9.72 HK dollars. CNOOC, China's largest offshore oil producer, edged down 0.58 percent to 6.87 HK dollars. Sinopec, China's another oil producer giant moved down 0.68 percent to 7.33 HK dollars. (7.8 HK dollars = 1 U.S. dollars

Source: Xinhua