Chinese shares higher in morning trade

SHANGHAI, May 7 -- Chinese share prices were higher in Wednesday morning trade led by energy stocks after crude oil prices spiked to a fresh record high overnight, dealers said.

They said coal miners and energy were in favor after crude oil in New York hit a new intraday record price of 122.7 dollars a barrel before settling at 121.8 dollars amid concerns over tight supplies.

The benchmark Shanghai Composite Index, which covers A and B shares, was up 22.55 points or 0.60 percent to 3,756.05 at 10:06 am (0206 GMT).

The Shanghai A-share index added 23.80 points or 0.61 percent to 3,941.50 points, while the Shenzhen A-share index gained 1.73 points or 0.15 percent to 1,180.85.

(Agencies)