HONG KONG: Hong Kong stocks started sharply lower Monday morning following a big sell-off in New York on expectations that the Federal Reserve will begin winding down its ultra-loose monetary policy sooner than expected.

The Hang Seng Index fell 1.04 percent, or 299.63 points, to 28,501.64.

The benchmark Shanghai Composite Index slipped 0.27 percent, or 9.60 points, to 3,515.50, while the Shenzhen Composite Index on China's second exchange shed 0.20 percent, or 4.81 points, to 2,373.80.