SHANGHAI, Nov 27 (Reuters) - China stocks started the week on a bearish note on Monday, with the blue-chip index falling over 1 percent soon after opening, led by consumer and banking shares.
Investors’ confidence has been dented by rising bond yields as Beijing steps up its crackdown on shadow banking and other riskier forms of financing. Higher borrowing costs threaten to squeeze corporate profits.
The CSI300 index was down 1 percent at 4,063.21 points by 0150 GMT, while the Shanghai Composite Index lost 0.6 percent to 3,334.80.
The Hang Seng index in Hong Kong was down 0.4 percent at to 29,738.77. (By Shanghai Newsroom; Editing by Kim Coghill)