The fall of Hong Kong stocks widened in the afternoon following mainland-traded equities, dragged down by tech and local developers.
The benchmark Hang Seng Index closed Wednesday at 23,892 points – down 255 points or 1.06 percent – widening the losses from 0.36 percent at the market open.
The full-day main board turnover increased to HK$233.87 billion.
The Hang Seng Tech Index slid 1.76 percent to 5,231. Alibaba (9988), the most traded company on Wednesday, lost 3.8 percent, followed by Meituan's (3690) 2.45-percent fall and Tencent's (0700) 1.37-percent drop.
Local developers declined amid the liquidity concerns. Henderson Land Development (0012) dived nearly 9 percent, becoming the worst performing blue chip constituent, after announcing its plans to issue convertible bonds to raise HK$7.9 billion.
Mainland markets swung to a fall in the afternoon. The Shanghai Composite Index, once exceeding the 3,500-point level in eight months, ended 0.13 percent lower and stood at 3,493. The Shenzhen Component Index also edged down 0.06 percent to 10,581.
Meanwhile, South Korea's KOSPI advanced 0.6 percent and Japan’s Nikkei 225 Index gained 0.33 percent.
STAFF REPORTER
