In Hong Kong, the benchmark Hang Seng Index fell 237 points, or 0.9 percent, to 25,329 on turnover of HK$238.74 billion.
The tech index was 68 points, or 1.5 percent, lower at 4,550 while the China enterprises index was 50 points, or 0.6 percent, down at 8,462.
Shares in online fast-fashion retailer Shein fell in their debut on Tuesday, with investors worried about the impact of setbacks that long delayed its listing and have undermined its competitive advantages.
Up north, the Shanghai Composite Index closed down six points or 0.16 percent, at 3,979 on turnover of 944.3 billion yuan.
The Shenzhen Component Index fell 142 points, or 1.02 percent, to 13,872 on turnover of 1.09 trillion yuan.
Tech shares weighed on the market, with the start-up board ChiNext Composite Index dropping 45 points, or 1.32 percent, to 3,393 on turnover of 507.08 billion yuan, Shanghai’s tech-focused Star50 Index down 2.2 percent and the CSI Semiconductor Index sliding 3 percent.
Defensive sectors, however, gained, cushioning the broader market. The CSI Liquor Index gained 2.5 percent while the consumer staples sector strengthened 1.2 percent.
The banking sector also climbed, with the CSI Banks Index up 1.9 percent.
“Sentiment is expected to stay cautious, and trading is likely to remain range-bound,” analysts at Hwabao Securities said in a note.
Markets have entered an earnings lull and are awaiting confirmation of the Chinese and US leaders’ meeting schedule, while Federal Reserve chairman Kevin Warsh’s hawkish turn last week has also left investors reassessing the interest rate outlook, they added.
Around the region, stock markets were under pressure as selling drove global bond yields to major new highs, while renewed fighting in the Middle East lifted oil prices above US$90 a barrel.
In Tokyo, the Nikkei share average closed 96 points, or 0.15 percent, lower at 66,215 after the benchmark flitted between losses and gains throughout the session. The broader Topix rose 25 points, or 0.6 percent, to 4,181.
In Seoul, the Kospi closed up 15 points, or 0.23 percent, at 6,835 as preliminary August trade data showed exports extended strong growth, underpinned by artificial-intelligence demand in the chip sector. (Reuters & Xinhua)
