Chinese shares up 0.20 percent

Chinese share prices were slightly higher in Monday morning trade as buying interest in some heavyweights rose after the key index plunged more than five percent in the previous session, dealers said.

Shares opened lower before a mild rebound in heavyweight financials lifted the market. But airliners and oil majors continued to fall further on the continuing rise in oil prices.

Shanghai property stocks gained after a Hong Kong newspaper reported over the weekend that Disneyland had chosen a possible site for a theme park in the city and plans to make an announcement before the Beijing Olympics.

The benchmark Shanghai Composite Index, which covers A and B shares, added 5.41 points or 0.20 percent to 2,753.85.

The Shanghai A-share index was up 5.66 points or 0.20 percent to 2,888.61, while the Shenzhen A-share index rose 2.73 points or 0.33 percent to 836.02.

(Agencies)