China: Stocks open down over 2%, extend previous day's sharp fall

[SHANGHAI] China stocks open down over 2 per cent on Wednesday, extending previous day's sharp losses amid growing uncertainty over the monetary policy outlook.

Stocks plunged more than 6 per cent on Tuesday, their biggest fall in three weeks, on speculation the central bank may be in no rush to ease policy further and concerns a further weakening in the yuan would hit importers.

The CSI300 index fell 2 per cent to 3,748.18 points at 0130 GMT, while the Shanghai Composite Index lost 2.7 per cent to 3,646.75 points.

China CSI300 stock index futures for August fell 0.2 per cent, to 3,737.6, -10.58 points below the current value of the underlying index.

The Hang Seng index in Hong Kong was up 0.1 per cent, to 23,488.44 points.

REUTERS