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The benchmark Hang Seng Index shed 177.76 points to 23,830.31 on turnover of HK$71.16 billion ($9.15 billion).
Chinese shares rose 0.22 percent as investors were largely indifferent to the central bank's latest move to tighten monetary policy, dealers said.
The Shanghai Composite Index, which covers both A and B shares, was up 6.80 points to 3,057.33 on turnover of 160.8 billion Yuan ($24.4 billion).