Shares flat while foreign capital pours in

Shanghai shares closed generally flat with slight losses on Monday, while a large amount of foreign capital flowed into the Chinese mainland markets.

The benchmark Shanghai Composite Index dipped 0.02 percent to 2,894.8 points, while the smaller Shenzhen Component Index retreated 0.29 percent to 10,969.28 points.

The ChiNext Composite Index, meanwhile, ended 1.05 percent lower at 2,102.83 points, and the blue chip CSI300 Index slipped 0.09 percent to 3,960.18 points.

Trade volume on the two major bourses topped 684.7 billion yuan (US$96.57 billion), down 2.8 billion yuan compared with the previous session. Among them, the Shanghai Stocks Exchange posted a total turnover of 271.9 billion yuan compared with Friday’s 276.6 billion yuan.

Overseas capital poured into the Chinese mainland to post a net influx of 2.65 billion yuan via the Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong.

Nearly 60 mainland-listed companies saw gains hitting the daily limit of 10 percent, while stocks of seven firms declined by over 9 percent.

Among industries, the cement and building materials sector led the rises, with Jinyuan EP Co and Xinjiang Qingsong Building Materials and Chemicals Group Co both surging by the maximum 10 percent.

Pork-related shares, however, were among the biggest decliners. Jiangxi Zhengbang Technology Co and Fujian Aonong Biological Technology Group Inc both shed over 6 percent.

The average price of pork in China's agricultural wholesale markets was 41.45 yuan per kilogram, down 2 percent from Saturday, according to data from the Ministry of Agriculture and Rural Affairs as of 2pm on Monday.

The precious metals sector also fell. Gansu Ronghua Industry Group dropped 4.38 percent, while Jinan High-tech Development Co and Gansu Gangtai Holding Group Co both lost over 3 percent.

Shipbuilding firms, insurance companies and the auto sector were also among big gainers, while food and beverage companies, and tourism and hotel shares performed weakly.

On the STAR Market, meanwhile, 41 of the 102 listed companies gained, one remained flat, while the rest posted losses. Linkage Software skyrocketed by 264.93 percent on Monday to become the biggest gainer. GreenTech Environmental Co, however, dropped the most by 9.52 percent.