Shanghai stocks opened up 1.73 percent on Thursday, reversing losses from a day earlier, after the central bank this week cut interest rates to boost the world's second largest economy, dealers said.

China's benchmark Shanghai Composite Index jumped 50.74 points to 2,978.03. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 1.64 percent, or 27.78 points, to 1,723.54.