Chinese shares close lower on Monday

BEIJING – Chinese stocks closed lower on Monday, with the benchmark Shanghai Composite Index down 2.3 percent to 3,421.41 points.

The Shenzhen Component Index closed 3.81 percent lower at 13,863.81 points.

The combined turnover of stocks covered by the two indices stood at 979.3 billion yuan (about 151.14 billion U.S. dollars), up from 876.4 billion yuan on the previous trading day.

Shares of electricity and power companies saw strong performances, while the liquor and breeding sectors reported sharp losses.

The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, lost 4.98 percent to close at 2,728.84 points on Monday.