Hong Kong shares finished Tuesday more than two percent lower after China set an ambitious five percent annual growth target and Wall Street fell ahead of the release of key US economic indicators.

The Hang Seng Index ended down 2.6 percent, or 433 points, to close at 16,162.

The Shanghai Composite Index rose 0.3 percent, or 8 points, to 3,047, while the Shenzhen Composite Index on China's second exchange fell 0.6 percent, or 10 points, to 1,718. (AFP)