Asian shares slumped as investos cashed in in on recent gains.

In China, the Shanghai Composite fell 2.3% after seeing its highest daily spike in more than two years in the previous trading session. Hong Kong's Hang Seng index was 3.1% lower.

Japan's benchmark Nikkei 225 was 2.7% lower and Australia's benchmark S&P/ASX 200 index shed 1.1%.