China's stocks fell sharply on Monday's trading hours as recent cut of benchmark interest rate by PBoC continued to weight on the country's stock markets. Moreover, dismal headlines from the US pushed Chinese equities down. The worst-performing sectors were basic materials and technology amid. Property developers also plunged after Chinese Premier Wen Jiabao said that measures aimed at controlling speculative demand in the real estate market will be continued in long-run. Sino Land, China Overseas Land and Investment and Kai Properties all slumped 3.5%, 3% and 1.9%.