Chinese shares hit a one-month high on Monday as news in China of sweeping economic reforms ignited a fresh lease of life into what has proven to be Asia's worst performing major market this year.
The benchmark Shanghai Composite stock index rose almost 2.9 percent to a peak of about 2,198, while Hong Kong's Hang Seng stock index jumped 2.6 percent to its highest level in over nine months.
(Read more: China's sweeping reforms: What you need to know)
Beijing late on Friday unveiled a 60-point reform plan for the world's second-biggest economy, which is moving away from investment-led growth towards consumption. The plan included steps to open up Chinese markets to more competition and step-up financial reforms such as giving qualified private investors the go ahead to set up banks.
It also included a decision to relax China's controversial one-child policy – this itself sparked gains of more than 10 percent in baby-related stocks in Hong Kong such as milk powder maker Yashili International.