China stocks fall to new lows at midday Monday

Chinese shares slumped more than 1 percent to close at their lowest levels in more than three years during the morning session on Monday as concerns over the country's economic slowdown continued to build up in the markets.

The benchmark Shanghai Composite Index lost 27.61 points, or 1.32 percent, to close at 2,064.5 while the Shenzhen Component Index tumbled 1.67 percent to finish the morning trade at 8,436.05.