Hong Kong stocks have finished marginally lower, in line with a broad regional sell-off, as investors took profits following recent gains.
The benchmark Hang Seng Index on Tuesday edged down 18.88 points to 22,944.30 on turnover of $HK42.38 billion ($A5.92 billion).
There were no cues from London and New York, where markets were closed for public holidays, while focus turns to this week's release of key US data, including revised economic growth for the first three months of the year.
In Hong Kong, there were losses for luxury retailers and mall owners after the city's chief executive Leung Chun-ying said the government had discussed placing a cap on the number of mainland tourists, analysts said.
"Any curbs here will impact the high end," warned a spokesman for Parry International Trading, according to Dow Jones Newswires.
Jewellery firm Chow Tai Fook fell 3.2 per cent to $HK10.22, while mall operator Wharf (Holdings) dropped 3.5 per cent to $HK53.15.
In other areas, internet firm Tencent slipped 0.18 per cent to $HK111.2, HSBC was 0.43 per cent higher at $HK81.25 and ICBC bank dipped 0.40 per cent to $HK4.95.
In China, the benchmark Shanghai Composite Index eased 0.34 per cent, or 6.91 points, to 2,034.57 on turnover of 55.9 billion yuan ($A9.74 billion).
The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.38 per cent, or 3.99 points, to 1,048.81 on turnover of 81.7 billion yuan.
Mainland dealers moved out on concerns that a recent tightening in regulation would make it more difficult for these start-ups to raise funds.
"The regulation is much stricter with small firms' financial conditions than before, raising a question on how many such companies will be eligible to raise funds in the future," Zeng Xianzhao, an analyst at Everbright Securities, told Dow Jones Newswires.
The ChiNext, the benchmark index for the growth enterprise market, ended 1.1 per cent lower, which had a knock-on effect for China's other bourses, which are already shaky owing to concerns about the economy.
SAIC Motor A eased 0.81 per cent to 14.67 yuan and Bank of China was 0.37 per cent off at 2.68 yuan, while Wuhan Iron & Steel lost 0.97 per cent to end at 2.04 yuan.
However, property developers were mostly higher on hopes that for policy moves to help the sector, which has been hurt by falling prices. Poly Real Estate rose 1.0 per cent to 5.08 yuan and China Vanke gained 0.7 per cent to 8.17 yuan.
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