Hong Kong stocks closed down 55. 99 points, or 0.26 percent, at 21,454.94 on Thursday.
Chinese equities declined more than 1 percent on Thursday as financial and property sectors continued a weak trend.
The ChiNext was down Thursday as only 23 of the 71 stocks at China's start-up board for small and medium-sized enterprises rose, while other four stocks were suspended from trading.
China's stock index futures fell on Thursday with all of the four contracts closed lower from the previous trading day.
Bank shares in countries such as China and India may extend their advantage amid fraud probes of Goldman Sachs Group Inc.
Hong Kong stocks closed down 112.45 points, or 0.52 percent, at 21,510.93 on Wednesday.
China's stocks rose for the first time in five days as healthcare and consumer companies rallied on the prospect they will benefit from uncertainty over government measures to cool asset bubbles. Chinese shares rebound above 3,000 points
The ChiNext market was up Wednesday as 68 of the 71 stocks at China's start-up board for small and medium-sized enterprises rose, while the other three stocks were suspended from trading.
Chinese equities rebounded on Wednesday from the biggest daily fall in eight months earlier this week as bargain hunters shifted their capital to healthcare and retail sectors.
Investors should buy Chinese consumer stocks and drugmakers and avoid developers because of uncertainty over measures to cool asset bubbles, said Shenyin & Wanguo Securities Co and China International Capital Corp (CICC).
Hong Kong stocks closed up 218. 21 points, or 1.02 percent, at 21,623.38 on Tuesday.
The ChiNext market was down Tuesday as only 17 of the 66 stocks at China's start-up board for small and medium-sized enterprises rose, and one stock was suspended from trading.