The closure of the popular tabloid, which mixes pro-democracy views with celebrity gossip and investigations of those in power, marks the end of an era for media freedom in the Chinese-ruled city, critics say.

"Thank you to all readers, subscribers, ad clients and Hong Kongers for 26 years of immense love and support. Here we say goodbye, take care of yourselves," the paper said in an online article.

Hundreds of supporters gathered outside Apple Daily's building on Wednesday night to show support, sometimes in heavy rain, and waved smartphone lights.

Journalists came out onto the balcony and responded with their own phones.