BEIJING, June 15-- Chinese stocks opened higher on Monday, with the benchmark Shanghai Composite Index up 0.16 percent, to open at 5,174.42.

The Shenzhen Component Index opened 0.47 percent higher at 18,182.64.

The ChiNext Index, China's NASDAQ-style tracking board of growth enterprises, opened 0.50 percent higher at 3,919.36 points.

However, the Shanghai index fell nearly 2 percent soon after the opening bell.

Market regulator China Securities Regulatory Commission (CSRC), announced on Saturday that illicit loans for stock purchases were forbidden and margin trading outside the brokerage system would be strictly punished.

The benchmark Shanghai Composite Index has risen by around 60 percent this year from the 3234.68 points registered on the last trading day of 2014. The total market value of the companies listed on two bourses extended to about 10 trillion U.S. dollars last Friday, another historical high.

The gain alone is bigger than Japan's entire equity market value of 5.1 trillion U.S. dollars, making China's stock market the world's second largest after the U.S., the market value of which totalled 25 trillion U .S. dollars.