SINGAPORE, Aug 16 (IFR) - Asian credits were holding steady on Wednesday amid mixed regional equity markets.

The Hang Seng index was 0.77% firmer but the Shanghai composite was 0.14% down on concerns of a slowdown in China's economy. Lending data showed China's new loans in July fell to their lowest in eight months.

Asian credit spreads were tighter with the iTraxx Asia IG index pulling in by 2bp.

In high-yield cash bonds, the market was generally unchanged in quiet trade, shrugging off a poor performance by newly priced bonds from Cifi Holdings.

The Chinese property developer sold US$300m 5.275% perpetual non-call five securities yesterday at par. The bonds fell a quarter of a point, although a trader quoted as low as three-quarters of a point down from reoffer price.

Another trader said the weakness was not reflective of the broader market, and was mainly because the bonds were priced too tightly.

"Overall, the market is still stable and high-yield credits are largely unchanged," said the second trader.

Medco Energi's 2022s were under pressure after the Indonesian issuer launched a US$100m tap of its 8.5% 2022s at 99.005. The outstanding bonds were heard at 98.775/99.163.

Other recent bonds were faring better. While Greenland's 4.85% 2020s have gained to 100.75 from reoffer at 99.862, the 7% 2020s from 21Vianet were seen at 100.5, above reoffer at par.

(Reporting by Kit Yin Boey; Editing by Vincent Baby)