Hong Kong stocks slumped 376.58 points, or 2.86 percent, to close at 12,798.52 on Tuesday, tracking Wall Street's sharp losses overnight.

Turnover fell to HK$36.97 billion ($4.77 billion) from Monday's HK$39.58 billion.

The benchmark Hang Seng Index lost 385.81 points, or 2.93 percent, to open at 12,789.29 and tumbled as much as 540.26 points, or 4.1 percent, to the day's lowest 12,634.84 in the morning session but trimmed its losses towards closing.