Equities rise to 11-week high on stability hopes

Resumption of initial public offerings helps deflect gloom over weak data, trade prospects

Stock prices rose to an 11-week high on Monday as the resumption of initial public offerings by the regulator was interpreted by investors as signs of growing confidence by the authorities that the country's stock market has stabilized.

The benchmark Shanghai Composite Index gained 1.58 percent to close at 3,646.88 points, after rebounding by more than 20 percent from its August low. The Shenzhen Component Index rose 1.47 percent while the startup ChiNext Index jumped by 2.37 percent.