Hong Kong stocks opened more than one percent down Monday morning following another big-sell-off on Wall Street, with investors awaiting the Federal Reserve’s policy meeting later in the week.

The Hang Seng Index sank 1.09 percent, or 272.12 points, to 24,693.43.

The Shanghai Composite Index shed 0.41 percent, or 14.32 points, to 3,508.24, while the Shenzhen Composite Index on China’s second exchange lost 0.62 percent, or 14.78 points, to 2,372.86.