Chinese stocks closed lower Monday, dragged down by liquor making and financial sectors.

The benchmark Shanghai Composite Index went down 0.99 percent to close at 3,523 points. The Shenzhen Component Index closed 1.77 percent lower at 11,352.72 points.

The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, lost 0.94 percent to end at 1,799.77 points Monday.

Combined turnover on the two bourses stood at 555.36 billion yuan (86.9billion U.S. dollars), up from 501.9 billion yuan the previous trading day.

More than 2,400 shares slumped among the two bourses, with liquor making and financial sectors losing most.
Kweichow Moutai lost 5.26 percent to close at 736.32 yuan per share and Ping An Insurance Company went down 3.6 percent to end at 73.36 yuan.

Bucking the trend, the coal sector was among the biggest winners, as China continues to slash excess coal capacity and product price increases.

Yanzhou Coal Mining Company rose 6.03 percent to close at 18.3 yuan per share.