Chinese shares closed mixed Monday with the benchmark Shanghai Composite Index up 2.25 points, or 0.08 percent, to 2,909.14.

The Shenzhen Component Index was down 78.26 points, or 0.62 percent, to 12,643.73.

The People's Bank of China (PBOC), China's central bank, announced on Friday that it would raise the bank reserve requirement ratio by 50 basis points starting on March 25.