The ChiNext stock market was up Wednesday as 78 of the 79 stocks at China's start-up board for small and medium-sized enterprises closed up.
Hong Kong stocks fell 360.50 points, or 1.81 percent, to close at 19,584.44 on Wednesday.
Chinese equities snapped the upward trend of the previous trading day to close lower Wednesday on the back of falls in property and financial shares.
Guangzhou Automobile, China's sixth-largest car maker, said on Wednesday it hopes to be listed in Hong Kong by the end of July, as it prepares for the move by privatising its Denway Motors unit.
NVC Lighting, one of the Chinese mainland's leading suppliers of lighting products, said Wednesday that the price of its initial public offering was set at HK$2.1 (26.9 cents) per share and the net proceed of its IPO was about HK$1.37 billion.
China's Supreme People's Procuratorate and the Ministry of Public Security on Tuesday issued new rules to clarify prosecution standards for insider trading and the leaking of inside information. Laws fine-tuned against loan, credit card fraud Law fine-tuned against terror financing
Hong Kong stocks rose 229.74 points, or 1.17 percent, to close at 19,944.94 on Tuesday.
The ChiNext stock market was up Tuesday as 25 of the 79 stocks at China's start-up board for small and medium-sized enterprises were down.
China's stock index futures closed up Tuesday with the contract for May, the most actively traded, up 1.88 percent to end at 2,779 points from the previous trading day.
Chinese equities Tuesday rebounded from their lowest level since last May and pushed the benchmark Shanghai Composite Index near the 2,600 point mark as financial and developer stocks shot higher.
Investors should avoid buying China's stocks until the third quarter when the government starts unwinding measures to curb asset bubbles, said Christopher Wood, chief equity strategist at CLSA Asia Pacific Markets.
Copper, aluminum, zinc, lead and nickel tumbled on concern that demand for raw materials will slow as European nations slash budgets to curb deficits and as Asian stocks extend a global slump.