HONG KONG (AFP) - Asian markets fell on Tuesday as data indicating Chinas economy could be slowing down raised concerns for the global recovery, while the European debt problem continued to weigh on sentiment. With markets in New York and London closed Monday for public holidays dealers looked to China, where figures showing manufacturing activity had eased led to a sell-off after recent gains. Concerns over the eurozone were still evident as dealers fret that the regions debt crisis could spread globally. Tokyos Nikkei ended 0.58 percent, or 56.87 points, lower at 9,711.83 and Shanghai closed 0.92 percent, or 23.86 points, lower at 2,568.28. Hong Kong tumbled 1.36 percent, or 268.24 points, to 19,496.95. Official data showed Chinas purchasing managers index (PMI) had slipped in May to 53.9 from 55.7 in April, while a separate PMI study by HSBC revealed a drop to 52.7 from a revised 55.2 the previous month. A reading above 50 means the sector is expanding, while below 50 indicates an overall decline. The figures follow a number of measures announced by Beijing aimed at cooling the countrys blistering growth it expanded 11.9 percent in the March quarter including tightening lending by banks. Previously, investors were just concerned about the tightening policies, but now they are worried that economic growth may seriously slow down, Amy Lin, an analyst at Capital Securities, told Dow Jones Newswires. HSBC economist Qu Hongbin said overheating risk is likely to ease as tightening measures filter through. A slowdown in China would have a massive impact on Asian markets as the country is a major export destination for several regional economies which rely on its voracious appetite to help their recovery. Lingering concerns that China would unveil more measures to tighten credit have weighed on Shanghai stocks for several weeks. The euro fell to as low as 1.2115 dollars in early London trade a four-year low from 1.2279 in Tokyo as the eurozone debt problem refused to go away. It also fell to 109.89 yen from 112 in Tokyo. Europes debt problems have continued to weigh on sentiment, with a number of investors taking profits due to caution following Spains credit rating downgrade. Greece and Portugal have also had their ratings lowered. Sydney ended down 0.37 percent after the central Reserve Bank of Australia kept interest rates on hold at 4.5 percent. Japanese dealers were mostly playing down speculation Prime Minister Yukio Hatoyama would resign after his approval rate plunged below 20 percent when he reneged on an election promise to move a US airbase off Okinawa island. The move has led to the splintering of his ruling coalition.