Chinese shares close mixed Monday

Chinese stocks closed mixed on Monday, with the benchmark Shanghai Composite Index up 0.02 percent to 3,473.13 points.

The Shenzhen Component Index closed 0.7 percent lower at 10,435.51 points.

The combined turnover of these two indices stood at 1.21 trillion yuan (about 169.22 billion U.S. dollars), down from 1.43 trillion yuan on the previous trading day.

The power and ceramics sectors emerged as the top performers, while biopharmaceutical and brewing stocks faced significant downward pressure.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 1.21 percent to close at 2,130.19 points on Monday.

U.S. President Donald Trump said Friday that he is considering "winding down" the U.S. military strikes against Iran, claiming the United States is "getting very close to" meeting its objectives.

"We are getting very close to meeting our objectives as we consider winding down our great Military efforts in the Middle East" with respect to Iran, Trump said on Truth Social.

The objectives Trump outlined include degrading Iran's missile capabilities, destroying its defense industrial base, eliminating its navy and air force, preventing it from ever approaching nuclear capability and protecting U.S. allies across the region.

Also on Friday, Trump said that he does not want a ceasefire with Iran.

"We can have dialogue, but you know, I don't want to do a ceasefire," Trump told reporters before he departed the White House for Florida, noting "You don't do a ceasefire when you're literally obliterating the other side."

"U.S. government says one thing, reality says another," Iranian Foreign Minister Seyed Abbas Araghchi said Friday on X, questioning White House's repeated claims that Iran's air defenses and Navy have been destroyed.

Trump on Truth Social also said that the Strait of Hormuz, a crucial global energy waterway, should be secured by the countries that rely on it and Washington would assist if asked.

"The Hormuz Strait will have to be guarded and policed, as necessary, by other Nations who use it -- The United States does not! If asked, we will help these Countries in their Hormuz efforts, but it shouldn't be necessary once Iran's threat is eradicated," Trump added.

The United States and Israel launched joint military strikes on Iran on Feb 28, disrupting global shipping, sending oil prices soaring and shaking the global economy.