Global markets sank on Monday amid the widening tech selloff and concerns over the US Federal Reserve rate hike.
The benchmark Hang Seng Index once lost over 500 points before closing 304 points lower, or 1.22 percent, to 24,657 points. The full-day turnover was HK$363.9 billion.
The Hang Seng Tech Index decreased by 2.71 percent to 4,755 points.
Most of the tech shares fell, with Baidu (9888) slumping the most in blue chips, down 7.6 percent. Alibaba (9988), Tencent (0700), and Meituan (3690) declined 2.9 percent, 1.5 percent, and 4.6 percent, respectively.
Oil majors outperformed the market on rising prices. CNOOC (0883) and PetroChina (0857) gained 1.9 percent and 1.3 percent, respectively.
The newly-joined HSI components, J&T Global Express (1519) and Aluminium Corporation of China (2600), went down 2.5 percent and 5.8 percent, respectively, while BeOne Medicines (6160) inched up 0.06 percent at close.
In the mainland, the Shanghai Stock Exchange Composite Index decreased by 1.7 percent to 3,959 points, and the Shenzhen Stock Exchange Component Index went down by 3.22 percent to 14,821 points. The two major benchmarks have dived for three consecutive trading days.
South Korea's KOSPI dropped 8.3 percent to 7,484, marking its biggest daily decline in three months. The slumping benchmark index triggered circuit breakers at the morning sessions - the third time this year.
Japan's benchmark Nikkei 225 Index also dropped 3.85 percent - the sharpest daily slide since March 9 - closing at 64,024. Taiwan's market fell 3.48 percent to a two-week low.
In Europe, the STOXX 600 share index hit a two-week low, down 0.9 percent.
