* SSEC +0.84%, CSI300 +1%
* China producer price growth slower than expected in December
* Debt worries dog developers; rising sales boost new energy vehicle makers
SHANGHAI, Jan 12 (Reuters) - Chinese shares rose on Wednesday as slower-than-expected December producer inflation made room for more monetary easing in the world’s second-largest economy, with new energy vehicle makers advancing on data showing strong sales momentum.
** At the close, the Shanghai Composite index was up 0.84% at 3,597.43.
** The blue-chip CSI300 index rose 1%, with the consumer staples sector up 1.06%, resources firms up 2.63% and industrial firms up 2.28%.
** China’s producer prices rose slower than expected in December after government measures to contain high raw material prices, while consumer prices slowed as food prices fell.
** Analysts expect moderating factory-gate inflation to offer more room for loosening monetary policy, as authorities seek to stabilise growth.
** A sub-index tracking makers of new energy vehicles (NEVs) and their suppliers ended the day up 4.74%.
** New data on Monday showed NEV sales jumped 114% in December from a year earlier, continuing strong growth momentum despite falling auto sales overall.
** The real estate index was down 1.12% amid continued concerns over the ability of developers to service their debts.
** Property firms controlled by developers Shimao Group Holdings, Kaisa Group Holdings and Greenland Group have been named and shamed in a list of Chinese companies “consistently overdue” on commercial paper payments.
** The smaller Shenzhen index ended up 1.33% and the start-up board ChiNext Composite index was higher by 2.635%.
** Around the region, MSCI’s Asia ex-Japan stock index was 1.43% firmer, while Japan’s Nikkei index closed up 1.92%.
** At 0700 GMT, the yuan was quoted at 6.3652 per U.S. dollar, 0.13% firmer than the previous close of 6.3733. (Reporting by Andrew Galbraith; Editing by Subhranshu Sahu)
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