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Shanghai: Stocks close higher after rate cut

An investor looks at stock market data displayed on an electronic board at a securities brokerage house in Beijing, China, Oct 22 2015.

[HONG KONG] 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 per cent, or 17.15 points to 3,429.58. The Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.68 per cent, or 13.74 points, to 2,030.48.