(Yicai Global) Jan. 4 -- China's stock markets opened significantly lower this morning with the Shanghai Composite Index slumping to a four-year low following a sharp drop in the US.

The Shanghai Composite Index dropped 0.74 percent to 2,446.02 points at the open, representing its lowest level since Nov. 21, 2014. The Shenzhen Component Index slid 0.95 percent to 7,022.12 while the Growth Enterprise Index, also in Shenzhen, fell 0.89 percent to 1,203.67.

Hong Kong's Hang Seng Index opened 0.47 percent lower at 24,946.1.

The Dow Jones Industrial Average fell 2.83 percent to 22,686.22 points in Thursday's trade. The Nasdaq Composite Index slid 3.04 percent to 6,463.5 and the S&P 500 Index fell 2.48 percent to 2,447.89.

The Institute for Supply Management revealed yesterday that the US Manufacturing Activity Index fell 5.2 basis points to 54.1 in December, representing the biggest monthly drop since the 2008 financial crisis.

Editor: William Clegg