BEIJING/TAIPEI - Chinese stocks closed lower on Monday, with the benchmark Shanghai Composite Index down 7.34 percent to 3,096.58 points.

The Shenzhen Component Index closed 9.66 percent lower at 9,364.5 points.

The combined turnover of these two indices stood at about 1.59 trillion yuan (about $220.89 billion), up from 1.14 trillion yuan the previous trading day.

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Shares related to the agricultural sector emerged as top gainers, while those in battery, consumer electronics and computer device industries suffered big losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 12.5 percent to close at 1,807.21 points on Monday.  

Meanwhile, the TAIEX, the weighted index on the Taiwan Stock Exchange, lost over 2,000 points and plunged below the 20,000 points mark in the morning session on Monday.

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The three major weighted shares, Taiwan Semiconductor Manufacturing Company, Hon Hai Precision Industry Co, and MediaTek Inc, hit their daily decrease limit after the market opened on the first trading day after the Qingming Festival holiday.

Artificial intelligence shares also suffered heavy losses.