Hong Kong stocks closed sharply lower Thursday as a renewed selloff in global bonds and a jump in oil prices weighed on risk sentiment.

The Hang Seng Index fell 344.71 points, or 1.4%, to close at 23,785.79, while the Hang Seng China Enterprises Index lost 71.82 points, or 0.9%, to finish at 8,010.58.

Oil prices jumped as attacks on shipping in the Gulf increased, with Brent crude rising 2.1% to $102.30 a barrel and U.S. crude gaining 1.7% to $89.79.

Investor concerns also grew over plans by major technology companies to raise billions of dollars in debt to fund artificial intelligence infrastructure.

Broadcom is seeking $50 billion in financing, while SpaceX is planning to issue $30 billion in investment-grade debt and raise $10 billion in loans to buy Nvidia chips, according to media reports.

The Federal Reserve's latest meeting minutes showed most officials considered another rate hike likely by year-end. Markets price only a 19% chance of a move this month, while an 80% chance of a December hike is priced in.

In corporate news, Shanghai Biren Technology (HKG:6082) closed nearly 12% lower after planning to place 130 million new H-shares at HK$31.08 each, raising net proceeds of about HK$4.02 billion.