China, Hong Kong stocks flat; auto shares little impacted by EU anti-subsidy probe

** EU Commission chief Ursula von der Leyen announced an anti-subsidy probe into Chinese electric vehicles (EV) on Wednesday, and declared Europe will do "whatever it takes to keep its competitive edge" at the European Parliament. ** China's automobiles index were down as much as 2.0% in early trades, but pared losses quickly and were down just 0.3% by the lunch break.

China and Hong Kong stocks were largely flat on Thursday, as the European Union's anti-subsidy probe barely affected China's auto stocks, while investors continued to seek policy measures and signs of economic recovery.

** China's blue-chip CSI 300 Index and the Shanghai Composite Index were little changed by the lunch break, while Hong Kong's benchmark Hang Seng Index was down 0.2%. ** EU Commission chief Ursula von der Leyen announced an anti-subsidy probe into Chinese electric vehicles (EV) on Wednesday, and declared Europe will do "whatever it takes to keep its competitive edge" at the European Parliament.

** China's automobiles index were down as much as 2.0% in early trades, but pared losses quickly and were down just 0.3% by the lunch break. ** EV maker BYD, which has sales exposure in Europe, slid 3.1%.

** Seres Group, Huawei's carmaking partner, rose to a maximum of 10%. ** China's central bank will boost demand and support a modest rebound in prices, a publication run by the People's Bank of China (PBOC) said on Wednesday, citing a unnamed senior central bank official.

** A slew of measures announced by authorities to shore up China's economy have led to some nascent signs of effectiveness. ** "Many of the policy measures are focused on the property sector and have shown some initial signs of effectiveness in boosting housing demand," said analysts at Pictet Wealth Management, adding that fiscal measures have also picked up speed.

** Mainland property developers traded in Hong Kong were down 1.9%.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)