US stocks continued its slide on Friday on speculations that China might take further monetary-policy tightening steps to counter inflation challenges.
The Chinese stock market suffered its worst decline in more than a year on Friday as fears of policy tightening triggered sell-offs in many sectors.
Hong Kong stocks closed down 477. 72 points, or 1.93 percent, at 24,222.58 on Friday.
China's stock index futures closed down Friday with the contract for November, the most actively traded, down 7.31 percent from the previous trading day to end at 3,287 points.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, lost 50.48 points, or 4.46 percent, to close at 1,082.24 on Friday.
Chinese shares plummeted the most since Aug 31 last year on Friday, as investors feared more interest rate raise after inflation hit 25 month high in October.
China's benchmark stock index rose as banks and oil refiners advanced after Moody's Investors Service boosted the nation's debt rating and speculation mounted the government will raise fuel prices. Consumer-related companies erased gains on concern costs will rise.
China's stock index futures closed mixed Thursday with the contract for November, the most actively traded, down 0.42 percent from the previous trading day to end at 3,502 points.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, lost 8.86 points, or 0.78 percent, to close at 1,132.72 on Thursday.
China's Ministry of Finance said it will sell 28.21 billion yuan ($4.21 billion) of one-year book-entry treasury bonds from Thursday.
China's stocks were mixed at the close Thursday, after officials said the October CPI climbed to a 25-month high at 4.4 percent.
China Gold International Resources Corp Ltd plans to raise up to $311.2 million in an initial public offering in Hong Kong later in November.