Chinese shares slightly higher in morning trade

Chinese share prices were slightly higher in Wednesday morning trade led by a continued rebound in financial stocks, dealers said.

They said the key index found some support after it broke through 3,000 on Tuesday. Banks and brokerages were favoured because of reasonable prices and growth potential.

The benchmark Shanghai Composite Index, which covers A and B shares, added 6.83 points or 0.22 percent to 3,154.63 at 10:22 am (0222 GMT).

But traders also noted that a weaker close on Wall Street overnight and record high oil prices may cap the momentum in the A-share market.

The Shanghai A-share index gained 7.19 points or 0.22 percent to 3,310.28 points, while the Shenzhen A-share index was up 8.33 points or 0.87 percent to 967.93.

(Agencies)