3 MIN. DE LECTURA
* HSI -1.8 pct, H-shares -2.2 pct, CSI300 -0.9 pct
* Chinese financials down on disappointing remarks
* Tencent falls to a 7-week low ahead of Alibaba IPO
* China telecoms sink after mainland misses iPhone 6 first launch (Updates to midday)
By Grace Li and Chen Yixin
HONG KONG/SHANGHAI, Sept 10 (Reuters) - Hong Kong suffered their worst fall in months early on Wednesday, as concerns that the Federal Reserve could raise interest rates sooner than expected triggered a sell-off across the board.
China shares also had losses on economic worries, with investors discouraged by Premier Li Keqiang's comment that China cannot rely on loose credit to lift its economy. Li added it is difficult for the country to avoid short-term fluctuations in growth.
At midday, the Hang Seng Index was down 1.8 percent at 24,736.63 points and appeared on track for a fourth straight daily loss. The China Enterprises Index of the top Chinese listings in Hong Kong shed 2.2 percent.
If the losses hold, Wednesday will be the worst day for both indexes since Feb. 4.
The Shanghai Composite Index dropped 0.8 percent to 2,308.56 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings was down 0.9 percent.
Hong Kong bourses, joining the U.S. market, were shaken after economists at the San Francisco Fed published a paper saying investors expect slower rate hikes than the U.S. policymakers themselves expect.
"The market has used up all the good catalysts," said Larry Jiang, chief strategist at Guotai Junan International in Hong Kong. "Some investors are just using the interest rate hike thing as an excuse to take profits."
Chinese financials were the standout index drags. The "Big Four" banks all shed about 1 percent in Shanghai and 2 percent in Hong Kong.
China is set to release August credit data between Sept. 10 and 15. But Premier Li, at a forum on Tuesday, said that at the end of August, broad M2 money supply was up 12.6 percent from a year earlier - which would be the weakest pace in five months.
The coming Alibaba IPO IPO-BABA.N sent shares of rival Tencent Holdings down a third straight day. Tencent declined 3.2 percent to a seven-week low.
Chinese mobile carriers were hurt as the mainland was not included in the first batch of markets to launch Apple Inc's iPhone 6. China Mobile, China Unicom and China Telecom each slid more than 2 percent.
Shares linked to railway infrastructure shares outperformed after the media reported that China's railway investment in the first eight months rose 20 percent from a year ago, topping 405 billion yuan ($66.07 billion) and is on track to meet its 2014 target.
Train-maker Taiyuan Heavy Industry Co jumped its 10 percent daily limit and China Railway Erju Co gained 5.6 percent. (1 US dollar = 6.1295 Chinese yuan) (Editing by Richard Borsuk)