The index, which represents the 30 largest technology companies listed in Hong Kong, lost 4.63 percent to close at a record low of 5,323.47 points.
Chinese e-commerce giant Meituan and popular video streaming and sharing platform Bilibili shed over 10 percent on Wednesday. Other top losers include e-commerce heavyweight JD.com and short video app Kuaishou, which lost over 7 percent.
The broader Hang Seng Index closed 1.64 percent lower at 22,907.25 points.
The Hang Seng China Enterprises Index, a benchmark that reflects the overall performance of the Chinese mainland securities listed in Hong Kong, lost 2.01 percent to end at 8,015.7 points.
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