Chinese equities rose 1.71 percent Monday, led by banking stocks.

The benchmark Shanghai Composite Index went up 1.71 percent, or 55.58 points, to close at 3,302.90. The Shenzhen Component Index gained 0.47 percent, or 64.57 points, to close at 13,940.44.

Combined turnover was 231.1 billion yuan ($33.8 billion).

Losers outnumbered gainers by 517 to 305 in Shanghai and 499 to 255 in Shenzhen.