China's benchmark stock index rose to the highest in a week as PetroChina Co advanced on the prospect of increasing profit. Consumer companies slid on concern recent gains have been excessive.
Hong Kong stocks closed down 82. 83 points, or 0.36 percent, at 23,237.69 on Monday.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, shed 2.03 percent, or 23.56 points, to close at 1,134.38 on Monday.
China's equities closed mixed Monday, as the benchmark Shanghai Composite Index was driven up by oil and financial heavyweights to end at 2,857.18, up 0.52 percent, or 14.75 points.
China's stocks may endure continued volatility in the upcoming weeks in response to a lack of certainty regarding further tightening monetary policy, weighing on the major index that has retreated for four weeks.
China will intensify its supervision and regulation of the futures market, and severely crack down on insider trading and market manipulation, according to the country's securities regulator.
Hong Kong stocks closed down 128.26 points, or 0.55 percent, at 23,320.52 on Friday.
China's stocks closed mixed Friday, with the benchmark Shanghai Composite Index down 0.04 percent, or 1.18 points, to end at 2,842.43.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, shed 1.69 percent, or 19.9 percent, to close at 1,157.94 on Friday.
Chinese mainland stocks rose for a second day as improving global economic data and speculation that Europe's debt crisis will be contained bolstered the outlook for the nation's exports.
Hong Kong stocks closed up 198.98 points, or 0.86 percent, at 23,448.78 on Thursday.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SSE) on June 1, edged up 0.67 points, or 0.06 percent, to close at 1,177.84 on Thursday.