SHANGHAI, Feb 2 (Reuters) - Hong Kong's share benchmark tumbled more than 2% on Monday while Shanghai stocks headed for their worst day in two months as a global rout in commodity prices hit sentiment across Asian markets.
Risk appetite was also hurt by China's disappointing manufacturing activity data and deteriorating fiscal revenue growth.
Hong Kong's Hang Seng Index .HSI dropped 2.4% by the lunch break, as commodity-related stocks .HSCIM suffered brutal sell-offs.
In China, the blue-chip CSI300 Index .CSI300 lost 1.1% while the Shanghai Composite Index .SSEC declined 1.3%.
Commodity-related stocks led the declines as global metal prices corrected sharply following recent surges.
An index tracking China's non-ferrous metal stocks .CSISNMIM lost 6.3%.
China's CSI SSH Gold Equity Index .CSI931238 tumbled more than 8% in the morning session, following Friday's 9% plunge.
Shares of listed gold miners, including Sichuan Gold Co 001337.SZ, Shanjin International Gold Co 000975.SZ and Zhaojin International Gold 000506.SZ, all fell by 10%, the most allowed for the day.
In Hong Kong, the Hang Seng Materials Index .HSCIM slumped more than 5%.
Sentiment was also soured by an official survey showing China's factory activity faltered in January as weak domestic demand dragged down production at the start of the new year.
These disappointing outcomes, "coupled with deteriorating fiscal revenue growth and a sharp contraction in auto sales, lends additional support to our view of a demand cliff," Nomura chief China economist Lu Ting said.
Shares fell across the board in Hong Kong, with biotech .HSIDI, chipmaking .HSIT and telecom .HSCIT stocks among the worst performers.
In China, market losses were partially offset by gains in liquor .CSI399997, consumer .CSI000912 and financial stocks .CSIFN.
(Reporting by Shanghai Newsroom; Editing by Ronojoy Mazumdar)
((samuel.shen@tr.com))
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