Chinese shares open higher

Beijing, Dec 30 (IANS) Chinese stocks opened higher on Wednesday, with the benchmark Shanghai Composite Index up 0.08 percent to open at 3,566.73 points.

The smaller Shenzhen index opened 0.16 percent higher at 12,826.48 points, Xinhua reported.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, gained 0.31 percent to open at 2,758.25 points.

US stocks rally as oil rebounds

US stocks posted solid gains as Wall Street cheered over recovery in oil prices amid positive data in the holiday-shortened week.

The Dow Jones Industrial Average gained 192.71 points, or 1.10 percent, to 17,720.98 on Tuesday, Xinhua reported.

The S&P 500 increased 21.86 points, or 1.06 percent, to 2,078.36. The Nasdaq Composite Index jumped 66.95 points, or 1.33 percent, to 5,107.94.

Oil Prices bounced back on Tuesday, with both the US oil and Brent crude jumping over 2 percent, as traders expected U.S. crude stockpiles to decrease for another week.

The West Texas Intermediate for February delivery moved up $1.06 to settle at $37.87 a barrel on the New York Mercantile Exchange, while Brent crude for February delivery added $1.17 to close at $37.79 a barrel on the London ICE Futures Exchange.

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