Police have arrested the driver on suspicion of unsafe driving causing injuries and deaths.
Photos and videos published by local media or posted by users on social media showed the gold-colored bus lying on its side while emergency workers rushed to treat injured passengers nearby.
The bus was carrying a lot of passengers when it overturned on a highway in the suburbs.
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As of 7.45pm, police said two people were still trapped in the bus. The firm said it would set up an investigation team to probe the cause of the crash.
Earlier reports said that 19 people were killed.
The bus was headed to Tai Po from Sha Tin Racecourse.
Passengers said the driver was breaking the speed limit to make up for being behind schedule, according to Now News.
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While Hong Kong has a well-developed and generally safe public transportation system, fatal bus crashes have persisted.
So said the driver was familiar with the route and had not been working overtime recently. More than three-quarters of bus drivers work 50 to 60 hours a week, according to a 2016 survey conducted by the Hong Kong Confederation of Trade Unions.
Hong Kong's chief executive Carrie Lam said she was "deeply saddened", after visiting one of the 12 hospitals that were treating the injured.
Last September, three people were killed and 31 injured after a Citybus double-decker mounted a kerb in Sham Shui Po.
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I have spoken with Westerville city leaders and pledged the full assistance of the Ohio Highway Patrol in any way they need. No additional information about the suspect or the incident to which police responded were immediately available.