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Hong Kong stocks fell 1.6 percent on Thursday in their fifth-straight losing session, as sharp falls in mainland-listed A shares accelerated a sell-off in the afternoon, led by Chinese insurers and lenders.

"A shares are still weighing on the market," said Alex Wong, director at Ample Finance Group.

"People are getting away from large-cap stocks and shifting into mid-caps. I'm not too bearish; there is inherent strength in the market as some names are holding up okay."

Wong said it was difficult to predict Friday's market direction due to high volatility.

The benchmark Hang Seng Index closed down 304.91 points to end at the day's low of 19,346.60, also its lowest level since Jan. 11.

Turnover was HK$55.5 billion (US$7.1 billion) compared to Wednesday's record HK$80.5 billion.

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