Hong Kong stocks declined on Wednesday as sentiment was dampened by rising inflation concerns in China.

The Hang Seng Index fell 255.75 points, or 1.1%, to 23,892.32, while the Hang Seng China Enterprises Index (HSCEI) dropped 111.39 points, or 1.3%, to 8,597.27.

China's consumer prices edged up 0.1% in June from a year earlier, rebounding from a 0.1% drop in May and beating expectations for no change, according to a Reuters poll.

Meanwhile, the producer price index fell 3.6%, marking a sharper decline than May's 3.3% fall and the steepest drop since July 2023. The Reuters forecast had pointed to a 3.2% decrease.

On the tariff front, amid escalating trade tensions, US President Donald Trump said he would proceed with implementing tariffs on 14 countries, including Japan and South Korea, starting Aug. 1, without any delay.

In corporate news, five companies debuted on the Hong Kong bourse, marking the busiest debut day of the year.

Fortior Technology (HKG:1304, SHA:688279) closed at HK$139.80, up 16.0% from its IPO price of HK$120.50.

Lens Technology (HKG:6613, SHE:300433) ended the day at HK$19.84, up 9.1% from its IPO price of HK$18.18.

Beijing Geekplus Technology (HKG:2590) finished at HK$17.70, up 5.4% from its IPO price of HK$16.80.

Wuhan Dazhong Dental Medical (HKG:2651) closed at HK$20.70, up 3.5% from its IPO price of HK$20.00.

Beijing Xunzhong Communication Technology (HKG:2597) ended the session at HK$13.58, up 0.2% from its IPO price of HK$13.55.