Chinese share prices open mixed

The benchmark Shanghai Composite index, which covers both A and B shares, rises 37.47 points or 0.85 per cent to 4,455.32.

Chinese share prices opened mixed in early Thursday trade, with the Shanghai bourse up as worries over the US economy eased after a rate cut by the Federal Reserve, dealers said.

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The US Federal Reserve slashed its base federal funds rate a half-point Wednesday to 3.0 per cent in its second cut in eight days, extending its efforts to help an economy on the brink of recession.

However, dealers said the upward trend could be capped as investors will remain cautious ahead of the Lunar New Year break with no aggressive position-taking seen in the wake of the recent corrections.

The benchmark Shanghai Composite index, which covers both A and B shares, rose 37.47 points or 0.85 percent to 4,455.32.

The Shanghai A-share Index was up 39.62 points or 0.85 percent to 4,675.65, while the Shenzhen A-share Index lost 3.38 points or 0.24 percent at 1,414.87.