Chinese shares higher in morning trade

SHANGHAI: Chinese shares rose 0.42 percent in morning trade on Monday, tracking gains in regional markets, on a report that the International Monetary Fund could bail out debt-ridden Italy, dealers said.

The Shanghai Composite Index, which covers both A and B shares, was up 9.95 points at 2,390.17.

The IMF could bail out Italy with up to 600 billion euros ($800 billion), an Italian newspaper reported on Sunday, as Prime Minister Mario Monti came under pressure to speed up austerity measures.