China shares tick up on easing money rates; Hong Kong slides

miércoles 19 de febrero de 2014 01:05 GYT

* SSE + 0.63 pct; HSI -0.20 pct; H-shares -0.45 pct

* Falling money market rates ease tightening fears

* Mixed China macro data leads to caution

* Wait-and-see mode before China parliament session - analyst

By Gabriel Wildau

SHANGHAI, Feb 19 (Reuters) - Mainland stocks crept higher on Wednesday, as a fall in money market rates eased concern over monetary tightening, while Hong Kong shares slipped on profit-taking.

The Shanghai Composite Index was up 0.6 percent at midday, while the Hang Seng Index fell 0.2 percent.

Shanghai shares eased off a two-month high on Tuesday after China's central bank drained cash from the banking system through open market operations for the first time in eight months.

But the overnight cash rate fell to its lowest level since May on Wednesday, indicating that liquidity remains ample, at least for the moment.   Continuación...