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1st LD-Writethru: Chinese shares close mixed Monday

Xinhua, June 6, 2016 Adjust font size:

Chinese stocks closed mixed on Monday following the sharp rally the previous trading day, with the benchmark Shanghai Composite Index down 0.16 percent, at 2,934.1 points.

The smaller Shenzhen index closed 0.18 percent higher at 10,363.09 points.

Combined trading on the two bourses dropped to 527.93 billion yuan (about 80.6 billion U.S. dollars) from 644.65 billion yuan the previous trading day.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, fell 0.26 percent to close at 2,199.3 points.

Heavyweight shares in sectors such as securities and coal producers led the losses. In contrast, stocks related to electronic manufacturing and lithium batteries were among the biggest winners.

The market rose by 4.2 percent on Friday thanks to rising optimism that global stock index compiler MSCI (Morgan Stanley Capital International) may add China's A-share market into its index. MSCI will announce its decision on June 15.

Investors tend to be cautious as they await a flurry of data in coming weeks to assess the health of the Chinese economy. Forex reserve data could be released as early as Tuesday, with trade on Wednesday and inflation on Thursday.

Gold-related stocks experienced a robust run on Monday as a Federal Reserve interest rate hike seems less likely after a U.S. report showing slowing hiring. Endi