Hong Kong stocks fell on Wednesday as renewed worries about Greece’s debt situation weighed on investor sentiment. The Hang Seng Index closed down 0.4 percent at 24,832.01 points.

Concerns resurfaced after the new Greek government reiterated its intention to renegotiate its bailout terms with the European Union. This has raised fears of a potential clash with creditors and increased uncertainty about Greece’s future in the Eurozone.

“The Greek situation is definitely casting a shadow over the market,” said Alex Wong, a director at Ample Finance Group. “Investors are worried about the potential fallout if Greece defaults or leaves the Eurozone.”

Adding to the negative sentiment were weaker-than-expected earnings reports from some major Hong Kong-listed companies. These results further dampened enthusiasm and contributed to the overall market decline.

Analysts expect market volatility to persist in the near term as investors closely monitor developments in Greece and await further economic data releases.

Among the worst-performing stocks were:

• China Mobile, down 1.2 percent
• HSBC, down 0.5 percent
• CNOOC, down 1.8 percent

Bucking the trend were some property developers, which saw gains on hopes of further easing measures from the government to support the housing market.