(Yicai Global) Nov. 6 -- Chinese stock markets opened higher this morning after the central bank made the surprise move of reducing the one-year medium-term lending facility rate yesterday.

The Shanghai Composite Index opened up 0.02 percent at 2,992.04, while the Shenzhen Component Index rose 0.09 percent to 9,947.31. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, climbed 0.43 percent to open at 1,720.68.

The People's Bank of China cut the interest rate on one-year loans to commercial banks by 5 basis points yesterday, its first amendment to the rate since March last year.