China shares inch up, bolstered by banking stocks

miércoles 14 de enero de 2015 00:56 GYT

* CSI300 +0.4 pct, SSEC +0.4 pct, HSI +0.6 pct

* Banks up, manufacturing counters down

* China Mengniu unit issues profit warning

By Sue-Lin Wong

SHANGHAI, Jan 14 (Reuters) - China stocks edged higher at midday on Wednesday, with strong gains for banking shares outweighing falls for manufacturing counters.

The CSI300 index rose 0.4 percent, to 3,527.32 points at the end of the morning session. The Shanghai Composite Index was also up 0.4 percent, to 3,247.35 points.

In Hong Kong, the Hang Seng index added 0.2 percent, to 24,271.10 points. The Hong Kong China Enterprises Index gained 0.6 percent, to 12,133.50.

The mainland bank index rose nearly 2 percent.

"Bank shares are still relatively undervalued and have the potential to continue rising so they are likely to further rebound," said Tian Weidong, an analyst for Kaiyuan Securities in Xi'an.   Continuación...