China shares close lower over massive IPO fears

Chinese shares tumbled on Monday from a two-week high over fears the market's liquidity will be drained if the securities regulator resumes approval of massive initial public offering later this month.

The benchmark Shanghai Composite Index lost 2.44 percent, or 48.93 points, to end at 1,958.27.

The Shenzhen Component Index was down 2.79 percent, or 218.96 points, to 7,637.63.