Chinese shares open higher after posting yuan with

The index of Shanghai Stock Exchange was up marginally by 0.2 percent on Monday after the central bank's announcement that he was ready to break with the rate of 23 months the yuan against the dollar.

An early appreciation of the yuan could boost long-term sectors such as airlines, banks, real estate, but the Chinese authorities await a gradual movement and left unchanged on Monday the daily reference rate for the yuan against the dollar.

A long-term appreciation of the yuan would boost the value of Chinese firms whose assets are denominated in that currency.

The Shanghai Composite Index opened at 2517.3 points. The index ended down 1.8 percent on Friday, its worst daily fall in nearly three weeks, concerns about the economic outlook.

"It is a positive factor for the market, but not growing much because negative factors such as IPO of the Agricultural Bank of China still weighing on the market," said Xu Yinhui, an analyst at Guotai Junan Securities.

The Chinese market share is one that has had the worst performance in the year, down from more than 23 percent after China announced a series of measures to ease speculation in real estate.