Hong Kong stocks shed 578.04 points, or 2.59 percent, to close at 21,748.60 on Wednesday after China's central bank raised bank reserve ratio after the market close on Tuesday.

Turnover totaled 97.62 billion HK dollars (12.52 billion U.S. dollars), compared with Tuesday's 81.22 billion HK dollars (10.41 billion U.S. dollars).