China stocks sharply lower at market open

China stocks sharply lower at market open

SHANGHAI, Jan 18 (Reuters) - China stocks opened down nearly 2 percent on Monday, after the country's 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 at 1:27 GMT, while the Shanghai Composite Index lost 1.8 percent to 2,847.54 points.

China CSI300 stock index futures 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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