UPDATE 1-China shares up 1 pct as property rebounds

(For Hong Kong stock market reports, click [.HK]) (Rewrites with analysis, individual stocks)

By Claire Zhang

SHANGHAI, Dec 27 (Reuters) - China's stock market rose to a fresh one-month high on Thursday as financial and property shares rebounded, while telecommunications-related shares jumped in active turnover.

The Shanghai Composite Index .SSEC ended the morning up 1.00 percent at 5,285.885 points. Gainers overwhelmed losers by 634 to 223. Turnover in Shanghai A shares shot up to 73.7 billion yuan ($10.1 billion) from Wednesday morning's 61.3 billion.

The biggest bank, Industrial & Commercial Bank of China (601398.SS: Quote, Profile, Research, Stock Buzz)(1398.HK: Quote, Profile, Research, Stock Buzz), gained 2.14 percent to 8.12 yuan.

Property shares rebounded after sagging for almost a month amid signs that the residential real estate market was flagging. Vanke 000002.SZ shot up 5.16 percent to 29.17 yuan, though it was still down 15 percent from December's peak.

Traders said some institutional investors were seen going back into property stocks, partly because of accelerating appreciation of the yuan <CNY=CFXS> against the dollar, which boosts asset values.

The yuan was heading for its biggest daily post-revaluation rise on Thursday after a string of strong reference rates set by the central bank fuelled speculation that authorities might soon widen its trading band.

Merchants Property Development 000024.SZ, which had slid from an early November peak above 100 yuan, surged 5.42 percent to 57.56 yuan.