India, July 28 -- World shares were mostly higher Monday and oil prices slipped nearly 7% as the US and Iran refrained from fighting while discussing a possible resumption of negotiations on an interim ceasefire deal.

Shares in Chinese memory chipmaker CXMT soared 466 per cent as they began trading on Shanghai's technology board. The company jumped to become China's most valuable listed company with an estimated market capitalisation of 3.3 trillion yuan (nearly $490 billion).

The Pentagon did not respond to questions about the pause in attacks on Iranian coastal areas and infrastructure after nearly two weeks of escalating fighting sparked by Iran's firing at ships trying to transit the Strait of Hormuz.

But markets reacted with relie...