Hong Kong stocks moved down 284.84 points, or 1.47 percent, to close at 19,145.07 on Wednesday.
The benchmark Hang Seng Index traded between 19,330.16 and 19,116.84 during the day's session. Turnover totaled 51.27 billion HK dollars (about 6.61 billion U.S. dollars), compared with Tuesday's 34.41 billion HK dollars.
The China Enterprises Index fell 175.44 points, or 1.91 percent, to end at 9,020.34 points.
Market heavyweight China Mobile edged down 0.36 percent to 82.60 HK dollars. Banking giant HSBC lowered 1.78 percent at 66.20 HK dollars. Its local unit Hang Seng Bank dipped 0.54 percent at 110. 10 HK dollars.
Mainland lenders went down. ICBC, China's largest bank by market value, plunged 2.16 percent at 4.07 HK dollars. CCB, the country's second largest lender by market capitalization, shed 1. 78 percent at 4.96 HK dollars. BOC, one of the "Big Four," lost 1. 43 percent to 2.76 HK dollars.
China Life, one of the world's largest life insurers by market value, fell 0.95 percent to 20.90 HK dollars. Another major Chinese insurer Ping An lost 0.63 percent at 55.15 HK dollars.
As for local property developers, Sun Hung Kai, HK's largest property developer by market value, fell 0.79 percent to close at 100.50 HK dollars. Cheung Kong properties, owned by billionaire Li Ka-shing, decreased 1.32 percent to 104.70 HK dollars. Another major developer Henderson Land lowered 1.54 percent to 48 HK dollars.
PetroChina, the country's largest oil and gas producer dropped 2.78 percent to 9.08 HK dollars. Sinopec, China's top refiner, fell 1.83 percent to 6.97 HK dollars. CNOOC sank 2.46 percent at 14.26 HK dollars. (1 U.S. dollar equals to 7.757 HK dollars)