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1st LD-Writethru: Chinese shares close mixed on Monday

Xinhua, May 30, 2016 Adjust font size:

Chinese stocks closed mixed on Monday, as investors were cautious about the country's monetary policy outlook following remarks about rate increases by U.S. Fed Chair Janet Yellen.

The benchmark Shanghai Composite Index went up 0.05 percent to 2,822.45 points, while the smaller Shenzhen index closed 0.46 percent lower at 9,768.84 points.

Trading on the two bourses dropped to 333.48 billion yuan (50.68 billion U.S. dollars), down from 378.41 billion yuan the previous trading day.

U.S. Federal Reserve Chair Yellen said at Harvard University on Friday that an interest rate hike in the next few months would probably be appropriate if economic data improves.

Her comments boosted the U.S. dollar against other major currencies.

The central parity rate of the Chinese currency, the renminbi or the yuan, weakened 294 basis points on Monday to 6.5784 against the U.S. dollar, the lowest level since February 2011, according to the China Foreign Exchange Trading System.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 0.55 percent to close at 2,058.52 points. Endi