Chinese shares slightly higher in morning trading

SHANGHAI, June 13, 2008 (AFP) - Chinese share prices were slightly higher in Friday morning trading but the key index continued to hover around a 15-month low, dealers said.

Investors hunted for bargains, picking up oversold stocks after seven consecutive days of losses, but the market is still lacking incentives that could lead to a sustainable rebound, traders said.

The benchmark Shanghai Composite Index, which covers A and B shares, was up 7.34 points, or 0.25 percent, to 2,964.87 at 10:08 am (0208 GMT).

The Shanghai A-share index added 7.63 points, or 0.25 percent, to 3,109.76 points, while the Shenzhen A-share index gained 0.39 points or 0.04 percent to 933.79.

(Agencies)