Chinese stocks closed higher on Monday, with the benchmark Shanghai Composite Index up 0.12 percent to 3,597.94 points.
The Shenzhen Component Index closed 0.44 percent higher at 11,217.58 points.
The combined turnover of these two indices stood at about 1.74 trillion yuan (about 2.43 billion U.S. dollars), down from 1.79 trillion yuan the previous trading day.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, increased 0.96 percent to close at 2,362.6 points.
Timothy Pope, a market analyst, recapped Chinese stock market performance on Monday.
"For Chinese investors, the big thing to watch today obviously is those trade talks which are set to take place in Stockholm. The Shanghai Composite Index ended the session just 0.1 percent higher -- not a stellar gain, but it was quite a choppy session and in the end the market managed to extend the rally. It's still hovering just below 3,600 points, which does also seem like a fairly natural point for the markets and for investors to take a bit of a pause. The fact that the U.S. chose to put a freeze on tech export restrictions to China today definitely looks like a signal that they want to get a deal done. So there was some positive response there, but the markets also waiting to see what was discussed and decided at this month's Politburo meeting of China's senior leaders and in the absence of some of those cues, we did see things cool a little bit. Add to that some of the less rosy industrial profit data that was released over the weekend, showing industrial profits down again, although not as severely as last month," he stated.
"Profit taking was definitely a drag on the market today as we saw some the stocks which were doing well last week out of hopes for the government's anti-price war campaign did slip back this Monday. Steel and coal stocks in particular -- Baosteel and coal producer Shenhua Energy -- were both among the biggest contributors to losses that we saw in Shanghai today. But that was being balanced out by gains among financial stocks where insurers were really shining, and healthcare stocks jumped as well. We saw Jiangsu Hengrui Pharmaceutical shares jumped to a 4-year high at one point today, closing 5.6 percent higher. The company says that it's agreed to license global rights for 12 different drugs and treatments to GlaxoSmithKline for an upfront payment of half a billion dollars," he continued.
Analyst recaps Chinese stock market performance on Monday
