China stocks flat; Hong Kong drops on EV stock losses

China Resources Beer Holdings

24/07/2024 06:10

By Summer Zhen
       HONG KONG, July 24 (Reuters) - Chinese stocks struggled
for direction on Wednesday as market turned to risk-off mode
amid weak economic data and U.S. election risks.
    The Shanghai Composite index  .SSEC  slipped to below the
key 2,900 level in morning trade but ended the midday up 0.1% at
2,918.27 points. 
    Hong Kong stocks dipped, dragged down by electric vehicle
makers following disappointing second quarter results from Tesla
 TSLA.O . NIO  9866.HK  and XPENG  9868.HK  fell 3.9% and 4.9%
respectively.
    
    
** By midday, China's blue-chip CSI300 index  .CSI300  was down
0.1%, with its financial sector sub-index  .CSI300FS  lower by
0.21%, the consumer staples sector  .CSI000912  down 0.37%, the
real estate index  .CSI000952  down 1.48% and the healthcare
sub-index  .CSI300HC  down 0.09%.
 
** Chinese H-shares listed in Hong Kong  .HSCE  fell 0.51% to
6,163.37, while the Hang Seng Index  .HSI  was down 0.62% at 
17,361.12.     
   
** The smaller Shenzhen index  .SZSC  was down 0.22%, the
start-up board ChiNext Composite index  .CNT  was weaker by
0.18% and Shanghai's tech-focused STAR50 index  .STAR50  was
down 0.06%​.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.29% while Japan's Nikkei index
 .N225  was down 1.11%.
 
** The yuan  CNY=CFXS  was quoted at 7.2756 per U.S. dollar,
0.01% weaker than the previous close of 7.2747. 
     

 (Reporting by Summer Zhen; Editing by Janane Venkatraman
)
 ((summer.zhen@thomsonreuters.com; 852-3462-7739;))