Hong Kong stocks suffered their biggest three-day slide in two weeks as petroleum exploration and production companies weighed on the market after CNOOC Ltd reported a slump in third-quarter sales.

The Hang Seng Index closed 0.8 percent lower, taking its three-day loss to 2 percent. CNOOC, mainland's biggest offshore oil and gas producer, lost 2.7 percent after posting a 15 percent fall in third-quarter sales as output declined with capital spending. A gauge of mainland companies listed in Hong Kong slipped 0.9 percent, with China Petroleum & Chemical Corp and Petro China Co losing more than 1.3 percent.

On the mainland, the Shanghai Composite Index closed lower for a second day after reaching a nine-month high earlier in the week.