SHANGHAI, CHINA - Chinese shares closed up 2.70 percent on Monday, reversing early losses as expectations for continued strong economic growth offset profit-taking on the new Nasdaq-style board, dealers said.

The Shanghai Composite Index, which covers both A and B shares, was up 80.80 points to 3,076.65 on turnover of 154.9 billion yuan (S$31.7 billion).

The Shanghai A-share index added 84.82 points, or 2.70 percent, to 3,228.70 on turnover of 154.4 billion yuan.

The Shenzhen A-share index gained 33.42 points, or 3.02 percent, to 1,140.37 on turnover of 98.8 billion yuan.