Hang Seng Index fails to hold on to 27,000 points

Hong Kong stocks closed just shy of the 27,000-point level on Wednesday, tracking the performance of the mainland market after China's three major exchanges raised margin requirements.

The benchmark Hang Seng Index rose 151 points, or 0.56 percent, to 26,999, with the full-day turnover of HK$340.4 billion.

The tech gauge rose 0.66 percent to 5,908 points.

Tech giants showed mixed performance. Alibaba (9988) rose for the fourth consecutive day, up over 5 percent. Kuaishou (1024) jumped over 4 percent, while Meituan (3690) fell 3 percent. 

Trip.com (9961) slumped over 6 percent after China's market regulator launched an investigation into it.

In mainland China, the Shanghai Composite Index inched down 0.31 percent to 4,126, while the Shenzhen Component Index increased 0.56 percent to 14,248.

On Hang Seng Bank (0011)'s last trading day, its shares remained flat at HK$154.3, while its turnover surged to HK$9.69 billion. The bank will be delisted from the Hong Kong Stock Exchange on January 27.