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Financials

China shares slip as EV stocks drag; Hong Kong gains

* SSEC -0.22%, CSI300 -0.27%, HSI +0.85%

* China’s NDRC to investigate EV projects nationwide

* Hong Kong shares gain following Dow Jones record

BEIJING/SHANGHAI, Nov 25 (Reuters) - China stocks slipped on Wednesday as electric vehicle shares fell on news of a government investigation into the sector, offsetting gains in energy firms.

** At the midday break, the Shanghai Composite index was down 0.22% at 3,395.33 points. ** China’s blue-chip CSI300 index was down 0.27%, with its new energy vehicle sector sub-index down 1.45%, the consumer staples sector down 1.59% and the healthcare sub-index down 1.39%.

** The real estate index rose 0.79%, while the financial sector sub-index gained 0.82%. ** The smaller Shenzhen index was down 0.78%, the start-up board ChiNext Composite index was weaker by 1.21% and Shanghai’s tech-focused STAR50 index was down 1.03%.

** Chinese H-shares listed in Hong Kong rose 0.36% to 10,650.55, while the Hang Seng Index was up 0.85% at 26,814.66.

** Hong Kong shares gained following an overnight surge that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook. ** China’s state planner asked local governments to investigate new energy vehicle (NEV) projects, according to a document confirmed by two people familiar with the matter.

** Shares in China’s energy firms extended recent strong gains, as analysts see rising oil prices on demand recovery.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.56% while Japan’s Nikkei index was up 1.13%. ** The yuan was quoted at 6.5773 per U.S. dollar, 0.24% firmer than its last close of 6.593. (Reporting by Zhang Yan in Beijing, Luoyan Liu and Andrew Galbraith in Shanghai; Editing by Vinay Dwivedi)

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