Shares of most Hong Kong-listed Chinese property stocks surged to their highest in over a year, as China's recent slew of stimulus continue to buoy markets.

SHANGHAI/SINGAPORE (Reuters) -Chinese stocks swept to their biggest single-day gains in 16 years on Monday, with domestic A-shares registering their highest ever turnover, as investors scrambled to join a searing rally sparked by Beijing's latest raft of stimulus measures.

The dramatic stimulus-fueled rally in Chinese stocks has cost traders betting against US-listed shares roughly $6.9 billion in mark-to-market losses, according to a report from S3 Partners.

Japan's August retail sales climbed 2.8% year on year, beating Reuters poll estimates of a 2.3% rise, and up from a revised 2.7% rise in July.

The interest rate cuts and further economic stimulus announced last week by Chinese authorities continue to boost the stocks representing interests in that nation.

China said Sunday that it would allow home owners to refinance mortgages, the latest in a torrent of policy moves aimed at supporting the struggling economy and stock market. The new

Skeptics have been out in force since China rolled out aggressive stimulus measures last week to prop up its ailing economy and markets. It's just not enough to reverse the magnitude of China's problems — including an epic property crisis and high youth unemployment — they say.

Asian equities were lower, except for Mainland China and Hong Kong, as the former posted one of the all-time greatest days, while the latter had a good session, led by growth stocks and sectors.

Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back to one of the most beaten-down markets worldwide.

Chinese stocks extended a blistering rally on Monday with those in the mainland headed for their best month in almost a decade, as Beijing rolled out further stimulus measures to arrest a slowdown in the broad economy.