BEIJING, Aug. 6 (Xinhua) -- Chinese share prices rose 1.48 percent to close at another record high on Monday despite Hong Kong's Hang Seng Index dropping 2.67 percent and Indonesian stocks falling 4.3 percent.

    The benchmark Shanghai Composite Index, which covers A and B shares listed on the Shanghai Stock Exchange, rose 1.48 percent, or 67.34 points, to close at 4,628.11 points on a turnover of 169.9 billion (22.1 billion U.S. dollars).

    The component index of the smaller Shenzhen Stock Exchange was up 363.17 points or 2.24 percent, to 16,542.81 points on a transaction volume of 94.5 billion yuan.

    Share prices continued to be pushed up by expectations of further strong corporate first-half profits, especially in the steel, nonferrous metals, machinery, financial and real estate sectors, said Deng Hanxue, an analyst with Guoyuan Securites.

    The market would probably face volatility in the next few days despite a continuing bull run, said analysts with Shenyin Wanguo Securities.

    The steel and nonferrous metals sectors led the market on Monday, with Zhongjin Gold Corp., Jiangxi Copper Industry Group and Shandong Gold Group rising by the maximum ten percent.

    The property and financial sectors, which were the major driving force of the market last week, showed signs of correction.

    Vanke Co. rose 0.5 percent to 33.97 yuan, the Industrial and Commercial Bank of China dipped 0.34 percent to 5.8 yuan and ChinaLife fell 1.2 percent to 50.37 yuan.

    There were 614 gains and 217 losses on the Shanghai stock exchange and 432 gains and 158 losses on the Shenzhen bourse.

    On Monday, the Hushen 300 index, which tracks 300 companies on the Shanghai and Shenzhen stock exchanges, closed at 4,703.98 points, up 105.6 points, or 2.3 percent, from the previous close.