Policy moves lift stocks to 7-week high

Markets rally after PBOC expands pilot program to allow banks to use qualified credit assets as collateral LI XIANG

China's stock indexes rose sharply on Monday, sending the benchmark to a seven-week high, after the monetary authority rolled out fresh measures to stimulate the economy.

The Shanghai Composite Index jumped by 3.28 percent, or 104.51 points, to close at 3287.66 points. The Shenzhen Component Index, which tracks smaller stocks, advanced by 4 percent, while the ChiNext Index comprised by high-tech and startup companies rose by 4.52 percent.