Hong Kong stocks dropped in line with most other Asian markets on Wednesday morning, following sharp losses in Wall Street after the head of the Federal Reserve revived worries about a sharp increase in interest rates.

The Hang Seng Index climbed 0.74 percent, or 231.25 points, to 31,037.41 in early trade.

And the benchmark Shanghai Composite Index dropped 0.85 percent, or 28.01 points, to 3,264.06, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 0.79 percent, or 14.37 points, to 1,794.55 – APP/AFP