Chinese shares sharply lower in morning trade

Chinese share prices were sharply lower in Monday morning trade, down more than two percent as investor sentiment was dragged down by losses on Wall Street, dealers said.

Investors took cues from a weak overseas market after the blue-chip Dow Jones Industrial Average tumbled 1.83 percent on Friday.

China's oil majors were hit by profit taking, giving up nearly all their gains following the government's fuel price hikes announcement last week.

The benchmark Shanghai Composite Index, which covers A and B shares, was down 59.19 points or 2.09 percent to 2,772.55.

The Shanghai A-share index shed 62.23 points or 2.09 percent to 2,908.70, while the Shenzhen A-share index lost 9.72 points or 1.17 percent to 822.19.

(Agencies)