HONG KONG, June 14 (Reuters) - Chinese stocks moved higher, while Hong Kong shares seesawed in a narrow range on Wednesday, as investors anticipated more rate cuts and policy stimulus to support the country's economic recovery.
** China's blue-chip CSI 300 Index rose 0.52%, while the Shanghai Composite Index climbed 0.24%.
** Hong Kong's Hang Seng Index was largely flat and the Hang Seng China Enterprises Index edged up 0.12%.
** Asian shares rose and the dollar was under pressure on Wednesday after slowing U.S. inflation solidified bets that the Federal Reserve would skip a hike later in the day.
** China's new bank lending rose to 1.36 trillion yuan ($189.83 billion)in May, data from the People's Bank of China (PBOC) showed on Tuesday, up from April but missed analysts' estimates.
** China's central bank lowered a short-term lending rate for the first time in 10 months on Tuesday to restore market confidence.
** The market expects that the next adjustment to rates could come as soon as Thursday, when the central bank is due to roll over 200 billion yuan in medium-term lending facility (MLF) loans.
** "We expect the PBOC to cut 1-year MLF rate by 10bp on 15 June, followed by 10bp cut in 1-year LPR and larger cuts of 15-20bp in 5-year LPR on 20 June," Jian Chang, chief China economist at Barclays Asia Pacific, said in a note.
** Redmond Wong, Greater China market strategist at Saxo Markets said the weakness in economic data has been pretty much well digested. The sentiment has been improving following the rate cut but remains fragile.
** "The question about if the improved sentiment can sustain, or turn even more positive, depends on whether a package of stimulus measures will be released in the coming days," he said.
** Food and beverage stocks jumped 2.7% to lead the gain.
** Hong Kong-listed tech giants advanced another 1.6%. ($1 = 7.1642 Chinese yuan renminbi) (Reporting by Summer Zhen; Editing by Nivedita Bhattacharjee)
