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.

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.

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

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.

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 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.

Chinese stocks just had their best week since 2008. After the government pumped a $114 billion stimulus into the market, the CSI 300 index, which tracks companies in Shanghai and Shenzhen, jumped 15.7% in a week.