Hong Kong shares fell on Wednesday, marking their first monthly drop in six, as a slew of weak earnings results and disappointing profit expectations dragged down property and material stocks. 

At the close of trade, the Hang Seng Index was down 199.15 points, or 0.7 percent, at 28,378.35. 

The Hang Seng China Enterprises Index fell 0.44 percent to 10,972.04. 

The Hang Seng lost 2.1 percent in March in its first monthly decline since September 2020. 

Worse-than-expected earnings of some real estate companies sent down the real estate sub-index of the Hang Seng. The property sector dipped 2.68 percent.

Hong Kong shares of China Vanke Co were down 5.29 percent, as analysts cut their earnings forecasts after the developer reported its annual results on Tuesday. 

Consumer and material stocks also dropped, down 2.44 percent and 3.33 percent, respectively. 

The top gainer on the Hang Seng was CITIC Ltd, which rose 2.22 percent, while the biggest loser was WH Group Ltd , which fell 12.74 percent.