SHANGHAI, Sept 28 (Reuters) - China main stock benchmark tumbled to five-month lows on Wednesday, as fears grew that rapid interest rate hikes would tip the global economy into recession.

** The blue-chip CSI 300 Index and the Shanghai Composite Index both plunged 1.6% at close. The CSI 300 closed at the lowest level since April 26.

** The Hang Seng Index slumped 3.4%, languishing around 11-year lows, while the Hang Seng China Enterprises Index ended lower 3.1%.

** World shares sank to two-year lows on Wednesday, hammered by spiralling borrowing costs that intensified fears of a global recession and sent investors into the arms of the safe-haven dollar.

** China's onshore yuan touched the weakest level against a rising dollar since the global financial crisis of 2008, while its offshore counterpart hit the lowest on record.

** Foreign investors sold more than 3.8 billion yuan ($530 million) of Chinese shares through the stock connect scheme on Wednesday, following two days of net buying.

** Non-ferrous metal stocks tumbled 5.2%, new energy firms plunged nearly 4%, and semiconductor companies retreated 2.8%.

** Investors are dialling back risk exposure ahead of China's Communist Party Congress in October and sticking money in the relative safety of mainland blue chips as they await signs Beijing is ready to address problems hanging over the economy.

** "Sentiment is driving the market, both in equities and currencies. There are not many people doing any bottom fishing. Since (the Hang Seng) is below the mid-March low, it's hard to say where we're heading for," said Steven Leung, executive director of institutional sales at brokerage UOB Kay Hian.

** Mainland developers listed in Hong Kong plunged more than 6%, with CIFI Holdings (Group) Co down 30%.

** CIFI Holdings has missed payment of certain non-standard debt under a Tianjin project company, according to a report by credit intelligence provider Reorg.

** Hong Kong-listed tech firms dropped 3.9%, with e-commerce giant Alibaba Group down 4.1%.

** The Hang Seng Finance Index declined 3.6%. HSBC Holdings tumbled 5.8% to become the biggest drag on the Hang Seng benchmark. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)