China's Stock Market Down; Oil Prices Fall

Chinese stocks dropped on Monday, with the Shanghai Composite dropping 14.10 points, or 0.45 percent to 3,090.17. The Shenzhen composite was also down 0.45 percent. The Chinese yuan rose 217 basis points to 6.7641 versus the US dollar.

Investors will be looking for U.S. price index and GDP data from Europe.

US stock markets ended mostly lower overnight, with the Dow Jones Industrial Average falling 0.05 percent, to 18,161.19, the S&P500 index dropping 0.31 per cent to 2,126.41, and the Nasdaq Composite slipping 0.50 percent to 5,190.10.

Oil prices traded lower on Monday, following a weekend meeting among the OPEC members. Brent crude futures dropped 0.56 percent to trade at $49.43 per barrel, while US WTI crude futures on the NYMEX fell 0.43 percent to trade at $48.49 a barrel.

Top market movers among the Shanghai Composite index are as follows:

• SAIC Motor Corp Ltd (600104: SHH) shares gained 1.3 percent to 23.67 CNY
• Kweichow Moutai Co Ltd (600519: SHH) rose 0.9 percent to 319.97 CNY
• China Railway Group Ltd (601390: SHH) 0.5 percent to 8.36 CNY

• China Shipbuilding Industry Co Ltd (601989: SHH) shares down around 1.8 percent to 6.52 CNY
• China Minsheng Banking Corp Ltd (600016: SHH) dropped 1.7 percent to 9.15 CNY
• CRRC Corp Ltd (601766: SHH) fell 1.4 percent to 9.28 CNY