Just wondering, Avangi, does 'I read as much as half of it' mean that I read more than half of the book? And that 'I read up to the half-way point' means that I read up to exactly the middle of the book? Sorry, I don't really get the difference between the two.
"As much as" would tend to ere on the lesser side, but going over the mid-point would be no crime. It's something like, "No more than," with the difference being analogous to "The glass is half empty, not half full."
"up to the mid-point" would suggest a higher (but still un-specified) degree of accuracy in your estimate, but the error may be on either side.