* CSI300 -0.6 pct; SSEC -0.8 pct; HSI -0.6 pct
* Risks in China's credit, commodities market hurt sentiment
* Zoomlion shares drop after worse quarterly performance on record
SHANGHAI, April 25 (Reuters) - China and Hong Kong stocks fell on Monday morning, as growing concerns over risks in debt and commodities markets on the mainland curbed investor risk appetite.
The blue-chip CSI300 index fell 0.6 percent, to 3,156.01 points by the lunch break, while the Shanghai Composite Index lost 0.8 percent, to 2,935.03 points.
In Hong Kong, the Hang Seng index lost 0.6 percent, while the Hong Kong China Enterprises Index declined 1.2 percent.
Investors are getting increasingly nervous about China's debt market, which has witnessed a slew of defaults this year, including those by state-owned enterprises (SOEs).
Risks are also building in China's commodities market, where feverish trading in products such as rebar - a reinforcing steel bar used in concrete - led to regulators' crackdown on speculation.
Investor anxiety further deepened on Monday when state media reported another scam in China's risk-laden shadow banking sector involving about 1 billion yuan ($154 million).
Jian Yi, executive partner at fund manager Winsor Capital, said he expects more and more defaults in the credit market, as well as more scams exposed in China's online finance sector.
"My fear is a worsening of the situation, which could spread to other markets such as real estate," Jian told a financial conference over the weekend.
He added that despite apparent ample liquidity, "there could also be a negative chain of reaction that threatens to trigger a spasm of liquidity and destruction in value."
Shares fell across the board in China and Hong Kong, with resource shares among the biggest decliners.
The Hong Kong-listed shares of Zoomlion Heavy Industry Science and Technology Co dropped more than 3 percent after the company reported its worst quarterly loss on record.
Bucking the broader trend, shares of Chinese developer Evergrande Real Estate Group jumped 4 percent in Hong Kong, after it said it would buy a stake in state-owned property company Calxon Group.
Reporting by Samuel Shen and Pete Sweeney; Editing by Jacqueline Wong