China, Hong Kong stocks slump on weak China PMI and global markets
* CSI300 -2.2 pct; SSEC -2.2 pct; HSI -3.0 pct
* China Sept flash factory PMI falls to 6-1/2-year low
* Sentiment at Asia's biggest firms tumble on China growth fears
SHANGHAI, Sept 23 (Reuters) - China and Hong Kong stocks fell on Wednesday morning, hit by weakness in global markets and a survey of China factory activity that deepened fears of a sharp economic slowdown.
China's blue-chip CSI300 index fell 2.2 percent, to 3,267.05 points by midday, while the Shanghai Composite Index also lost 2.2 percent, to 3,116.9 points.
Hong Kong's benchmark Hang Seng Index slumped 3 percent in its biggest one-day percentage fall in a month.
"Sentiment was soured mainly by sharp falls in European and U.S. equity markets, and global commodity prices," said Alex Kwok, strategist at China Investment Securities.
"The markets were also hit by China's PMI data released today, which doesn't look good."
China's September flash PMI, which measures activity in the country's factory sector, unexpectedly shrank for the seventh month in a row to the lowest level in 6-1/2 years, a private survey showed. Continuación...