Chinese stocks extend losing streak

Chinese shares continued their downward trend on Monday partly due to weakness in coal mining and real estate.

The benchmark Shanghai Composite Index dropped for a third consecutive trading day since reaching a 65-month high on Wednesday, ending 1.71 percent lower at 3,229.32 points.

The Shenzhen Component Index ended at 11,285.18 points, down 0.35 percent, marking the fourth day of declines in a row.

Total turnover on the two bourses shrank to 570.38 billion yuan (93.15 billion U.S. dollars) from 702.68 billion yuan on the previous trading day.

Property developers and coal mining companies were among the largest losers, with their sub-indices dropping 2.76 percent and 2.62 percent, respectively.

China Vanke, the country's largest developer, plunged 2.45 percent to 13.12 yuan, while Poly Real Estate, the second largest, dropped 3 percent to 10.36 yuan.

China Shenhua, the largest coal mining company in China, dived 3.39 percent to 20.83 yuan per share.

PetroChina, the largest oil and gas producer in China, lost 3.73 percent. Industrial and Commercial Bank of China, the largest commercial bank, dropped 1.23 percent.

Bucking the trend, the ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, closed 2.12 percent higher at 1,586.12 points.