Hong Kong stocks fell 318.01 points, or 1.35 percent, to close at 23,315.24 on Wednesday.
China's stock index futures closed lower Wednesday with the contract for May, the most actively traded, down 2.6 percent from the previous trading day to 3,129.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SZSE) on June 1, 2010, fell 1.96 percent, or 18.09 points, to 903.99 Wednesday.
Chinese shares fell sharply Wednesday with the benchmark Shanghai Composite Index down 66.17 points, or 2.26 percent, to 2,866.02.
Stocks on the Chinese mainland rose, driving the benchmark index to its biggest two-day increase in four weeks on Tuesday.
The highly anticipated initial public offering of Renren Inc, one of China's largest social networks, will be delayed until Wednesday, sources familiar with the deal said on Tuesday.
The value of Chinese currency renminbi (RMB), or the yuan, continued to weaken Wednesday following Tuesday's slide from the record high of 6.4990 per US dollar on April 29.
Chinese shares closed higher Tuesday with the benchmark Shanghai Composite Index up 20.68 points, or 0.71 percent, to 2,932.19.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SZSE) on June 1, 2010, rose 9.36 points, or 1.025 percent, to 922.07 Tuesday.
China's stock index futures closed higher Tuesday with the contract for May, the most actively traded, up 0.11 percent from the previous trading day to 3,210.4.
Net profits of Chinese companies listed both in Shanghai and Shenzhen climbed more than 30 percent in 2010 from a year earlier, as all companies have released their annual reports till April 30.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SZSE) on June 1, 2010, rose 8.57 points, or 0.95 percent, to 912.72 Friday.