Chinese equities extended last week's decline on Monday as financial and property shares led the losses amid a wait-and-see mood.

The benchmark Shanghai Composite Index ended at 2,969.5 points, down 14.03 points, or 0.47 percent.

The Shenzhen Component Index ended at 11,602.63 points, sliding 100.24 points, or 0.86 percent.

Total turnover shrank to 218.52 billion yuan (31.99 billion U.S. dollars) from 253.28 billion yuan on the previous trading day.

Losers outnumbered gainers by 469 to 392 in Shanghai and 513 to 377 in Shenzhen.

Banks and brokerages posted widespread declines. China Citic Bank Co., the nation's seventh largest commercial bank, dropped 3.48 percent to 6.1 yuan. Everbright Securities Co., the country's 11th biggest brokerage by assets, plunged 5.38 percent to 15.06 yuan.

Property developers continued the slump after the government reined in real estate financing on April 23 by ordering developers to submit fund-rising plans for review.

China Vanke Co., the country's largest property developer by market value, slipped 1.64 percent to hit a year low of 7.8 yuan. Poly Real Estate Co., the second biggest developer in China, edged down 0.42 percent to 16.79 yuan.

Xinjiang-related stocks were pushed up after the nation's decision makers mulled plans on April 23 to boost economic development and maintain long-term social stability in the northwestern region.

TBEA Co., the nation's leading transformer maker, rose 3.44 percent to 20.72 yuan. Xinjiang Chalkis Co., a major ketchup producer in China, gained 4.32 percent to end at 14.49 yuan.