Hong Kong shares fell more than 1 percent on Wednesday, tracking global markets lower, with shares of energy companies again weighing on the benchmark index as oil prices skid.
The Hang Seng index fell 1.2 percent to 19,192.45 points, while the China Enterprises Index lost1.3 percent to 8,061.71.
Most sectors declined, as a nearly two-week-long rebound in global markets showed increasing signs of fatigue.
Energy shares tumbled 2.5 percent as oil prices fell after Saudi Arabia effectively ruled out production cuts by major producers anytime soon
Japanese stocks fell on Wednesday as a stronger yen weighed on exporters and oil prices extended sharp declines, after top crude exporter Saudi Arabia ruled out production cuts while industry data showed growing U.S. stock piles.
The Nikkei share average fell 0.9 percent to 15,915.79 for its lowest close in a week.
Feb 24 European stocks fell for a second straight session on Wednesday, with commodities-related shares coming under further selling pressure as prices of copper and crude oil slipped.
The FTSEurofirst 300 index of top European shares fell 0.6 percent in early dealings after closing 1.3 percent weaker in the previous session.
The STOXX Europe 600 Basic Resources index dropped 3.4 percent, the top sectoral decliner, after prices of copper fell as concerns about the demand for the metal in top consumer China resurfaced.
The European oil and gas index also fell 1.5 percent, tracking a decline in crude oil prices which were impacted after top exporter Saudi Arabia ruled out production cuts and industry data showed a further build in U.S. crude stockpiles.
Reference: Reuters
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