Chinese shares up 0.19pc in morning trade

SHANGHAI: Chinese shares were up 0.19 percent in early trade Wednesday with oil majors leading the gains after the government announced a hike in fuel prices, dealers said.

The Shanghai Composite Index, which covers both A and B shares, was up 4.32 points at 2,296.22.

China said late Tuesday it would raise the retail prices of diesel and petrol by up to 0.26 yuan a litre (14 cents a US gallon) from Wednesday as rising crude prices increase pressure on the country's refineries.