HONG KONG (AFP) -- Hong Kong share prices closed 2.76 percent lower Friday, falling heavily after Wall Street losses overnight amid growing concerns about the U.S. housing sector sparked a sell-off in Asia, dealers said.

The Hang Seng Index closed down 641.28 points at 22,570.41, off a low of 22,443.10 and a high of 22,854.54. Friday's fall was the largest in both points as well as percentage terms since March 5, when the index dropped 777 points or 4.0 percent. Turnover was 112.52 billion dollars (14.43 billion U.S.). ""Many investors fear that the selling pressures on Wall Street is not over yet because weakness has emerged in various parts of the U.S. housing market,"" said Howard Gorges, vice chairman at South China Securities. ""Problems in the sub-prime mortgage market also appear to be far from over,"" he said. Given the global market uncertainty, many investors decided to lock in profits from the market's recent gains, Gorges said. ""It was tempting to lock in profits ... as investors wait for the dust to settle."" Among blue chips, HSBC fell 2.10 dollars at 141.10 dollars, China Mobile was down 2.35 at 89.35, Hutchison Whampoa shed 2.65 to 82.55 and Swire Pacific gave up 2.80 at 88.55. The financial sub-index lost 820.67 points or 2.31 percent at 34,767.89 and the property sub-index fell 1,067.51 points or 3.87 percent to 26,548.39. Cheung Kong was down 3.90 at 107.60 and Sun Hung Kai Properties fell 4.50 to 98.10. Dealers said the market's prospects next week are uncertain, with Wall Street's performance later Friday and HSBC's first-half results on Monday likely to have a crucial bearing. ""However, the local market may not necessarily follow Wall Street's lead all the time, just like what we've seen early this week when the local bourse ignored a sharp fall in the U.S."" Gorges said interest in China stocks remains very strong, ""especially after a spate of announcements by major Chinese corporations of their expectations of substantial year-on-year increases in first-half earnings.