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China: Shares open higher after interest rate cut

This photo taken on June 26, 2015 shows an investor checking the share prices in a stock firm in Fuyang, east China's Anhui province.

[SHANGHAI] Chinese shares opened higher on Monday after authorities cut interest rates at the weekend following market turmoil last week.

The benchmark Shanghai Composite Index was up 2.31 per cent, or 96.90 points, to 4,289.77 in early trading, while the Shenzhen Composite, which tracks stocks on China's second exchange, rose 1.77 per cent, or 44.41 points, to 2,547.37.