Beijing - China's benchmark stock index finished 3.67 percent lower on Monday, declining for a third straight day after an expected lending rate cut failed to materialize over the weekend.

The key Shanghai Composite Index closed 72.33 points lower at 1,897.06.

The smaller Shenzhen Component Index dropped 245.15 points, or 3.65 percent, to 6,466.19.

Losers outnumbered gainers by 764 to 101 in Shanghai and by 638 to 92 in Shenzhen. Combined turnover fell to 79.8 billion yuan from Friday's 121.4 billion yuan. (dpa)