Reuters (24/10) - Chinese shares slipped
in volatile trade on Thursday as a further spike in China's
money-market rates tempered the effect of a survey showing a pick-up in
manufacturing.China's benchmark seven-day repo rates
opened up nearly a full percentage point at 5 percent after the central
bank let cash drain from the money market for a second week.The Chinese central bank declined to
inject cash for a third day as regulators showed signs of concern that
loose liquidity might again be fuelling risky credit growth.Australian shares .AXJO advanced 0.3
percent and the Australian dollar rose 0.3 percent to $0.9650 on the
day. China is Australia's biggest export market.China's CSI300 .CSI300 index dipped 0.2
percent in choppy trade after sliding 2.1 percent in the previous two
sessions, and Hong Kong's Hang Seng Index .HSI dropped 0.7 percent.Japan's Nikkei share average .N225 eased 0.4 percent in relatively light trade, also hurt by a firmer yen against the dollar.But MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS ticked up 0.1 percent,
having fallen 0.9 percent on Wednesday to end a four-day winning streak.
