China market leads gains in Asia as it extends 8-month highs after holding key lending rates steady

This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets mostly rose Monday, with mainland China extending its 8-month highs, while investors awaited economic data from across the region this week.

China held its one- and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively, after the country laid out measures on Friday to boost its property market. The five year LPR is the reference rate for housing mortgages.

Hong Kong's Hang Seng index rose 0.18% after the announcement, while the mainland Chinese CSI300 gained 0.35% to end at 3,690.96, rising for a third straight day.

Investors await trade, inflation and business activity data out from Japan later this week, while Singapore will release its April inflation data and final figures for its first-quarter gross domestic product.

Japan's Nikkei 225 climbed 0.73% to end at 39,069.68, its highest level in over a month and the first time the index crossed the 39,000 mark since April 15.

The broad-based Topix gained 0.82% to end at 2,768.04. Both indexes pared gains from earlier in the session.

South Korea's Kospi rose 0.64% to close at 2,742.14, but the small-cap Kosdaq fell 1.02% to its lowest in almost a month. The country's central bank will release its rate decision later this week on Thursday.

Investors will also keep an eye on Taiwan as Lai Ching-te takes over formally as the island's new president, with the Taiwan Weighted Index up marginally at 21,271.63.

The Australian S&P/ASX 200 advanced 0.63% to finish at 7,863.7.

On Friday in the U.S., the Dow Jones Industrial Average closed Friday above the key 40,000 level for the first time.

The Dow first hit the 40,000 level during Thursday's trading session, but cinched its first close over the