HONG KONG: Hong Kong stocks tumbled Wednesday after three days of gains, with traders left unimpressed by city leader John Lee’s first policy address in which he vowed to boost the economy but would press on with a political crackdown.

The Hang Seng Index fell 2.38 percent, or 403.30 points, to 16,511.28.

Hong Kong stocks lower at start of trade

The Shanghai Composite Index lost 1.19 percent, or 36.58 points, to 3,044.38, while the Shenzhen Composite Index on China’s second exchange slipped 1.16 percent, or 23.25 points, to 1,981.84.