Hong Kong stocks closed lower Thursday as elevated oil prices weighed on sentiment, with investors cautious ahead of U.S. inflation data.

The Hang Seng Index fell 320.49 points, or 1.3%, to close at 24,954.47, while the Hang Seng China Enterprises Index lost 94.27 points, or 1.1%, to finish at 8,274.78

Brent crude held above $100 a barrel after surging past the threshold Wednesday for the first time since July, as escalating attacks on shipping in the Middle East raised concerns over energy supplies and inflation.

Investors are also awaiting U.S. producer and consumer inflation data due Thursday and Friday for clues on the Federal Reserve's policy path.

Markets are pricing in about a 60% chance of a rate hike at the Fed's Sept. 15-16 meeting.

In corporate news, Lingbao Gold (HKG:3330) closed over 3% lower after agreeing to acquire the 50%-1 share in Tabar Islands Holdings held by St Barbara (ASX:SBM) for AU$410 million.