Shanghai stocks climbed Monday after China slashed interest rates for the sixth time in a year ahead of a closely watched Communist party policy meeting this week.

The benchmark Shanghai Composite Index added 0.50 percent, or 17.15 points to 3,429.58. The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.68 percent, or 13.74 points, to 2,030.48.

However, Hong Kong's Hang Seng Index dipped 0.15 percent, or 35.69 points, to close at 23,116.25.