Chinese stocks closed higher Monday, as market enthusiasm rose on the first trading day after the national holiday.

The benchmark Shanghai Composite Index went up by 0.76 percent, closing at 3,374.38 points, while the Shenzhen Component Index closed 1.60 percent higher at 11,264.27 points.

Transactions were up, as total turnover on the two bourses stood at 538.3 billion yuan (about 80.96 billion U.S. dollars), up from 434.37 billion yuan on the previous trading day.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 1.22 percent to close at 1,889.84 points.

Stocks related to automobiles, autonomous technologies and artificial intelligence outperformed, while hotel and catering industries led Monday's declines.

Haima Automobile Group Co. Ltd. and Jianghuai Automobile Group Corp. Ltd. both rose by the daily limit of 10 percent.

Wanji technologies, an intelligent transportation system provider, surged by the daily limit of 10 percent to 36.69 yuan. TIZA, which focuses on the Internet of things, climbed 10 percent to 24.09 yuan.

China's central bank announced a targeted reserve requirement ratio cut on Sept. 30 to encourage inclusive financing at commercial banks.

China International Capital Corporation Limited estimates that the cut may release more than 800 billion yuan of liquidity into the economy.