SHANGHAI: China stocks fell on Wednesday, dragged down by electric vehicle makers and healthcare firms as investors booked profits, while worries over a slowing economy also weighed on market sentiment.
** At the midday break, the Shanghai Composite index was down 0.29% at 3,559.69 and China's blue-chip CSI300 index was down 0.58%. ** Leading the losses, the healthcare sub-index fell 2.11%, while the new energy vehicle sector lost 3.73%.
** Chinese H-shares listed in Hong Kong rose 0.12% to 8,459.53, while the Hang Seng Index was up 0.02% at 24,117.26.
** The smaller Shenzhen index was down 0.92%, the start-up board ChiNext Composite index was weaker by 1.96% and Shanghai's tech-focused STAR50 index was down 1.19%?.
** Shares of Chinese real estate developers surged after the country's central bank pledged to roll out more policy measures to stabilise the economy.
** Dalian iron ore jumped nearly 5%, leading ferrous materials' rebound in top steel producer China following three sessions of losses, on bets of more policy easing.
** Expectations of easing from the People's Bank of China while bracing for tighter US monetary policy "will spur traders to punt on rates-sensitive assets such as commodities and bonds," Hong Hao, head of research at BOCOM International, wrote in a research note.
** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.57%, while Japan's Nikkei index was down 2.30%.
** The yuan was quoted at 6.3523 per US dollar, 0.02% firmer than the previous close of 6.3537.