Chinese shares edge up in morning trading

Chinese share prices were slightly higher in Wednesday morning trading after the official media published reassurances about the future stability of the stock market ahead of the Olympics, dealers said.

The official Xinhua News Agency said in a commentary on Wednesday that China's stock market was still on track for stable, healthy development because the country's economic fundamentals remain strong and positive.

The remarks came after sharp falls in China's stock market, making it one of the world's worst performing stock markets this year.

The benchmark Shanghai Composite Index, which covers A and B shares, added 16.24 points to 2,667.85 at 10:18 am (0218 GMT).

The Shanghai A-share index was up 16.95 points or 0.61 percent to 2,798.04, while the Shenzhen A-share index gained 7.63 points or 0.94 percent to 820.51.

(Agencies)