Mainland shares open higher while HK stocks slip

Mainland stocks made modest gains on Wednesday, finding some support from Beijing's latest package of targeted credit-easing measures which were announced late on Tuesday. The benchmark Shanghai Composite Index was up 0.23 percent to open at 3,839 points while the Shenzhen Component Index opened 0.44 percent higher. Among the measures announced, the People's Bank of China said it would cut the interest rate on its one-year pledged supplementary lending (PSL) facility by 25 basis points to 1.5 percent from 1.75 percent to fund investment in water, power grid, computing, telecommunications and other infrastructure projects. In Hong Kong, the Hang Seng Index fell 129 points, or 0.53 percent, to open at 24,393. (Reuters/Xinhua) Edited by Tony Sabine