Both contracts had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ($1.40 trillion) debt package to ease local government financing strains, but analysts said it fell short of the amount of stimulus that would be needed to boost growth.

Oil prices fell about 2% on Monday, after China's stimulus plan disappointed investors seeking fuel demand growth in the world's No. 2 oil consumer and as the U.S. dollar edged higher. Brent crude futures fell $1.