China stocks sharply lower at market open By Reuters

China stocks sharply lower at market open

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SHANGHAI (Reuters) - China stocks opened down nearly 2 percent on Monday, after the top securities regulator pledged over the weekend to strengthen oversight amid "abnormal" volatility.

Xiao Gang, Chairman of the China Securities Regulatory Commission (CSRC) said on Saturday that it will strengthen supervision to avoid risks and promote healthy and sustainable development in capital markets.

The CSI300 index fell 1.6 percent to 3,068.23 points by 0127 GMT, while the Shanghai Composite Index lost 1.8 percent to 2,847.54 points.

China CSI300 stock index futures (CIFc1) for February rose 0.4 percent, to 3,027.8, 40.43 points below the current value of the underlying index.

The Hang Seng index in Hong Kong was down 1.2 percent, to 19,287.38 points.

(Samuel Shen and Pete Sweeney; Editing by Sam Holmes)

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