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Stock market today: Asian shares mostly decline, shrugging off Wall Street's rally

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Japan 's benchmark Nikkei 225 reversed early gains to decline 0.6% in afternoon trading to 39,289.14 .

China 's Hang Seng dropped 2.9% to 19,839.88 , the first time the index fell below 20,000 points since China announced stimulus package in September .

On Wall Street, the S&P 500 edged up by 0.1% , coming off its best week of the year following Trump ’s victory and a cut to interest rates.