HONG KONG: Hong Kong shares started Tuesday with more losses as Joe Biden's decision to nominate Jerome Powell to serve a second term as Federal Reserve head increased the chances the bank will embark on a quicker pace of policy tightening.

The Hang Seng Index fell 1.05 percent, or 262.35 points to 24,688.99.

The Shanghai Composite Index was marginally lower, inching down 1.57 points to 3,580.51, while the Shenzhen Composite Index on China's second exchange slipped 0.13 percent, or 3.35 points, to 2,522.23.