Hong Kong stocks fell hard on Thursday, with the weighted index plunging 912.22 points, or 4.85 percent, to close at 17,911.95.

The benchmark Hang Seng Index traded between 18,296.80 and 17, 859.31 after opening down 527.37 points or 2.80 percent at the day ‘s high. Turnover increased to 82.98 billion HK dollars.

Investors were disappointed at the Federal Open Market Committee (FOMC) meeting result and hurt by the U.S. Federal Reserve’s pessimistic outlook for the U.S. economy, while Moody downgraded three major US banks, said analysts explaining the slump.

All of the four sub-indices lost ground and three of them lost around five percent. The Utilities sub-index dropped 1.5 percent.

All 46 blue chips were in the red. Heavyweight HSBC sank 3.58 percent to 60.65 HK dollars, and its local unit Hang Seng Bank lost 3.52 percent to 101.3 HK dollars.

China Mobile edged down 2.76 percent to 77.6 HK dollars.

Chinese mainland lender ICBC gave up 7.57 percent to 4.15 HK dollars, Bank of China moved down 6.43 percent to 2.62 HK dollars.

Oil shares Sinopec and Cnooc fell over six percent to close at 7.1 HK dollars and 11.96 HK dollars respectively.

Local developer Cheung Kong Holding, controlled by billionaire Li Ka-shing, went down 4.79 percent to 89.5 HK dollars. Henderson Land lost four percent to 39.55 HK dollars.

Those tumbled over nine percent included Shipping firm Cosco Pacific, China’s top aluminum producer Chalco and China coal. (1 U. S. dollar equals to 7.795 HK dollars) – Xinhua