China and Hong Kong stocks retreated on Friday, tracking weaker Asian markets as concerns over global growth and a persistent supply glut sent commodity prices tumbling to multi-year lows.

The slump in mainland shares was led by a 1.9 per cent fall in the CSI300 Energy Index. Oil prices fell close to 6-1/2-year lows reached in August amid a relentless seven-week climb in US stockpiles.

A week-long downtrend in Chinese stocks as investors took profits was also exacerbated by growing expectations that the United States will raise interest rates next month after Federal Reserve officials lined up behind a hike on Thursday.

“This decline is still due to the market correction, which is normal. The increasing anticipation of the very likely US rate hike also weighed,’’ said Ren Chengde, an senior analyst at Galaxy Securities in Shanghai.

The CSI300 index fell 1.1 per cent to 3,753.84 points at the end of the morning session, while the Shanghai Composite Index lost 1.2 per cent to 3,590.82 points.

China CSI300 stock index futures for November fell 1.1 per cent to 3,715, 38.84 points below the current value of the underlying index.

The Hang Seng index dropped 2.1 per cent to 22,415.87 points.

The Hong Kong China Enterprises Index lost 2.1 per cent, to 10,186.06.

Analysts said an announcement by MSCI that it would add overseas-listed Chinese stocks, including Alibaba Group and Baidu.com, to its emerging market index, was weighing on the Hong Kong market.

“The Hong Kong stock market has already reacted in anticipation,’’ said Alex Wong, director of asset management at Hong Kong-based Ample Finance Group.

“Money flows in the market, in particular of funds in Hong Kong-listed China companies, have started to transfer to those ADR companies, which affect the liquidity of the Hong Kong market.’’

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