China stocks retreat after new IPOs; HK slumps nearly 4 pct on oil woes
* CSI300 -1.6 pct; SSEC -1.4 pct; HSI -3.8 pct
* energy stocks in China and Hong Kong slump on lower oil prices
* China approves a new batch of seven IPOs
SHANGHAI, Jan 20 (Reuters) - China stocks fell over 1 percent on Wednesday morning, giving up some of the previous session's 3 percent gain, after the country's securities regulator approved a new batch of initial public offerings (IPO).
Hong Kong shares slumped nearly 4 percent, knocked down by energy shares, which tumbled on renewed declines in oil prices amid supply glut fears.
The CSI300 index fell 1.6 percent to 3,170.33 points at the end of the morning session, while the Shanghai Composite Index lost 1.4 percent to 2,966.66 points.
Hong Kong's Hang Seng index dropped 3.8 percent, to 18,894.88 points, while the Hong Kong China Enterprises Index lost 4.9 percent, to 7,968.30.
The latest declines come amid a backdrop of nervous markets as collapse in oil prices, fears of a China-led global economic downturn and perceived policy missteps by Beijing sap confidence.
Chinese investors took advantage of Tuesday's sharp rebound to reduce holdings, even as the China Securities Regulatory Commission (CSRC) said that the new batch of seven IPOs would have limited impact on the market as pre-paid subscription capital is not required under new listing rules. Continuación...