Hong Kong falls more than 2% as shares in Asia decline

Asia stocks declined in Tuesday trade as major indexes on Wall Street saw fresh closing highs overnight.

The Hang Seng index in Hong Kong led losses among the region’s major markets, falling more than 2 percent by the afternoon.

Mainland Chinese stocks were also lower, with the Shanghai composite down 1.2 percent while the Shenzhen component dipping 1.931 percent. South Korea’s Kospi dropped about 2 percent.

In Japan, the Nikkei 225 slipped 0.95 percent while the Topix index was 0.7 percent lower.