China stocks flat; Hong Kong drops on EV stock losses
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
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