The Hang Seng lost 1.2%, led by HSBC's ( HSBC ) announcement that it would slash thousands of jobs to cut costs. Asian markets closed lower Tuesday, as sentiment was weighed down by investors' focus on U.S. interest rates, the ongoing Greek debt crisis and weak Chinese economic data. Data showed China's consumer-price index rose 1.2% in May from a year earlier, slower than the 1.5% year-over-year rise in April, raising concerns about deflation as the world's second-largest economy slows down.