Chinese shares close higher Monday

BEIJING, May 24 (Xinhua) -- Chinese stocks closed higher on Monday, with the benchmark Shanghai Composite Index up 0.31 percent, at 3,497.28 points.

The Shenzhen Component Index closed 0.62 percent higher at 14,506.61 points.

The combined turnover of stocks covered by the two indices stood at 842.3 billion yuan (about 130.8 billion U.S. dollars), up from 808 billion yuan the previous trading day.

Shares related to Chinese Baijiu (distilled spirits), domestic software and papermaking led the gains, while the automobile and steel industries led the losses.

The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, gained 0.85 percent to close at 3,139.69 points.