Financial sector losses drag markets lower

Stock markets on the Chinese mainland ended with losses Monday as poor performances from the heavily weighted financial sector took the wind out of investors' sails.

The Shanghai Composite Index dropped 4.82 points, or 0.22 percent, to end at 2,231.40; while the Shenzhen Component Index gave up 28.54 points, or 0.33 percent, to close at 8,659.00. Elsewhere in the equity market, the small and medium-sized enterprise index gained 1.09 percent to finish at 5,085.88; while the ChiNext index tacked on 2.02 percent to 1,278.80.

Combined trading volume totaled 244.52 billion yuan ($39.97 billion). easing from last week's close of 248.5 billion yuan.

Brokerage shares tumbled by an average of 2.42 percent Monday.

Shanghai AJ Corporation led the rout after falling 5.57 percent to 14.25 yuan. AVIC Capital Co relinquished 3.46 percent to 18.13 yuan. CITIC Securities Co surrendered 2.8 percent to 12.85 yuan.

With Mid-Autumn Festival and the National Day holidays approaching, retail and travel stocks shifted into high gear. The retail sector was up by 1.89 percent on the day as seven individual components shot to the 10-percent daily limit.

Healthcare related stocks got a bump as well on reports that the State Council had put support for the elderly on its agenda.

Zhejiang Hisun Pharmaceutical Co cleared the 10-percent limit to end at 17.78 yuan, Chongqing Taiji Industry (Group) Co surged 7.48 percent to 9.77 yuan, and GuangYuYuan Chinese Herbal Medicine Co soared 6.43 percent to 29.13 yuan.

Telecommunication stocks dialed up an average rise of 1.36 percent. Shenzhen Coship Electronics Co picked up 7.43 percent to 8.97 yuan.