BEIJING - Chinese stocks closed lower on Monday, with the benchmark Shanghai Composite Index down 1.42 percent to 2,887.54 points.

The Shenzhen Component Index closed 1.85 percent lower at 8,947.72 points.

The combined turnover of stocks covered by the two indices totaled 657.6 billion yuan (about $92.61 billion), down from 736.3 billion yuan on the previous trading day.

Shares in the semiconductor and storage chips sectors led the decline, while those related to tourism and photovoltaic industries achieved big gains.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 1.76 percent to close at 1,744.41 points on Monday.