Hong Kong stocks tumbled 4.29 percent Friday amid a sell-off in global market sparked by fears that the world economy is weakening.

Hong Kong stocks lost 938.6 points to close at 20,946.14 during Friday's trading session.

The benchmark Hang Seng Index traded between 20,643.26 and 21,017.72. Turnover totaled 124.774 billion HK dollars (about 15.992 billion U.S. dollars).

The Hang Seng China Enterprises Index dropped 458.91 points, or 3.86 percent, to close at 11,434.59.

All four sub-indices lost ground, with the Properties losing the most by 4.68 percent, followed by the Commerce and Industry 4.6 percent, the Finance 4.11 percent and the Utility 2.91 percent.

All 46 constituents of Hang Seng Index went down during Friday's trading session with heavyweight HSBC plummeting 4.53 percent to 72.7 HK dollars. Both Bank of China and China Construction Bank dropped 3.48 percent to 3.33 HK dollars and 5.82 HK dollars respectively. ICBC ended 3.19 percent lower at 5.46 HK dollars.

Most of the insurance stocks dropped as well, with Hong Kong-headquartered insurer AIA down 6.04 percent to 26.45 HK dollars and China Life down 4.55 percent to 24.15 HK dollars.

Property heavyweights closed lower generally. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, fell 6.19 percent to 112.2 HK dollars. SHK Prop closed at 110.8 HK dollars, losing 3.9 percent. Evergrande closed at 5.21 HK dollars, losing 6.13 percent.

As for energy and resources shares, the HK listed unit of China's National Offshore Oil Corporation, CNOOC, moved down 5.93 percent to 15.54 HK dollars. China Shenhua went down 4.82 percent to close at 24.15 HK dollars. GCL-Poly Energy, one of the top green supplier in China, dropped 11.55 percent to 4.06 HK dollars.

Hutchison became the worst-performing blue-chips, with a loss of 8.25 percent to 82.9 HK dollars. (1 U.S. dollar = 7.802 HK dollars)