China stocks slipped on Monday after the securities regulator vowed to step up its campaign against speculation and hinted about loosening its grip on new share offerings, Reuters reported. Hong Kong stocks were little changed. Both the CSI300 index and the Shanghai Composite Index lost 0.3 percent by the lunch break, to 3,464.35 points and 3,244.71, respectively. Liu Shiyu, chairman of the China Securities Regulatory Commission (CSRC), told a news conference on Sunday that the country will focus on stable development of its capital markets this year. But limiting or halting initial share sales in order to stabilise the secondary market doesn't "solve the problems of long-term healthy development of capital markets," Liu added. Most sectors fell in China, but the resources sector rose, aided by index heavyweight Baowu Iron & Steel . The stock, previously known as Baoshan Iron & Steel Co Ltd, shot up 7.7 percent following a one-month trading halt. Baoshan's acquisition of its smaller debt-laden rival Wuhan Iron and Steel created the world's second-largest steel producer as part of Beijing's push to overhaul the stricken industry. In Hong Kong, the Hang Seng index added 0.1 percent, to 23,984.70, while the Hong Kong China Enterprises Index lost 0.2 percent to 10,395.93.
