Shares in mining giant Glencore plunged 27.52 percent in Hong Kong Tuesday morning, hammered by weak commodity prices as Chinese demand slows while a brokerage warned about its impact on the group's future.

In mid-morning trade Glencore was 27.52 percent down at HK$8.90, after a similar plunge in its London-listed arm. Investec said in a research note Monday the "challenging environment for mining companies" made it questionable how much value would be left for Glencore equity holders if commodity prices remained subdued.