Chinese shares edged up Monday, supported by the steel and home appliance sectors.

The benchmark Shanghai Composite Index went up 0.49 percent to close at 3,388.17 points. The Shenzhen Component Index closed 1.41 percent higher at 11,373.74 points.

Combined turnover on the two bourses came in at 465 billion yuan (70 billion U.S. dollars).

The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 0.95 percent to close at 1,850.3 points.

Over 2,000 stocks gained with sectors of steel and home appliance among biggest winners.

Qingdao Haier jumped 6.71 percent to close at 16.12 yuan per share. Nanjing Iron & Steel rose 4.27 percent to close at 4.64 yuan per share.

Financial and property sectors dropped the most. Bank of Nanjing fell 2.53 percent to 7.7 yuan per share. Poly Real Estate Group shed 2.63 percent to 10.38 yuan per share.

China is prohibiting property developers, real estate agencies as well as Internet finance and micro-loan companies from financing down payments for home buyers, to rein in property prices in major cities.

Using funds obtained through channels, such as consumer loans for property purchases, will also be banned, according to the Ministry of Housing and Urban-Rural Development.

The ministry said it would work with the central bank and banking regulator to act against money laundering in the property market.