Hang Seng Index falls 320 points on Wednesday, CATL slumps 5 percent

Hong Kong stocks dropped more than 300 points on Wednesday.

The benchmark Hang Seng Index fell by 324 points, or 1.22 percent, to 26,163 points at close.

The market turnover was HK$228.3 billion.

Shares of CATL (3750) dropped by 5 percent following news that a Sinopec (0386) unit sold the battery giant’s shares.

The Hang Seng Tech Index lost 1.9 percent to 4,963 points.

In the mainland, the Shanghai Stock Exchange Composite Index climbed 0.5 percent to 4,106 points and the Shenzhen Stock Exchange Component Index was up by 1.3 percent to 15,177 points.