Rate cuts cheer up investors

Benchmark Shanghai Composite Index hits two-month high on new plan hopes

The benchmark Shanghai Composite Index rose to a two-month-high on Monday, reflecting optimism among investors after the central bank cut interest rates for the sixth time this year on Friday.

The People's Bank of China cut the benchmark deposit rate and lending rate by 25 basis points, bringing down the one-year benchmark lending rate to 4.35 percent and one-year benchmark deposit rate to 1.5 percent.