SHANGHAI, Nov 29 (Reuters) - China and Hong Kong shares fell on Wednesday despite gains on Wall Street, with investors' risk appetite curbed by North Korea's latest missile test.
** At 04:08 GMT, the Shanghai Composite index was down 16.19 points or 0.49 percent at 3,317.47.
** China's blue-chip CSI300 index was down 0.89 percent, with its financial sector sub-index lower by 0.54 percent, the consumer staples sector down 2.34 percent, the real estate index up 1.67 percent and healthcare sub-index down 1.51 percent.
** Chinese H-shares listed in Hong Kong fell 0.6 percent at 11,635.6, while the Hang Seng Index was down 0.36 percent at 29,574.82.
** China's economy is still facing relatively large downward risks that may become apparent by early 2018, a senior official of the banking regulator said on Wednesday. Yu Xuejun, head of the China Banking Regulatory Commission's regulatory board for key state-owned financial institutions, said during a event hosted by Caijing that China's economic stimulus measures have been overly strong, resulting in asset bubbles.
** The smaller Shenzhen index was down 0.8 percent and the start-up board ChiNext Composite index was weaker by 0.86 percent.
** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.11 percent while Japan's Nikkei index was up 0.30 percent.
** The yuan was quoted at 6.6012 per U.S. dollar, 0.06 percent firmer than the previous close of 6.6054.
** The largest percentage gainers in the main Shanghai Composite index were SJEC Corp up 10 percent, followed by Anyang Iron & Steel Inc gaining 9.34 percent and ENN Ecological Holdings Co Ltd up by 8.4 percent.
** The largest percentage losses in the Shanghai index were Zhejiang Hisun Pharmaceutical Co Ltd down 6.12 percent, followed by Bright Dairy and Food Co Ltd losing 4.25 percent and Mayinglong Pharmaceutical Group Co Ltd down by 4.22 percent.
** So far this year, the Shanghai stock index is up 7.41 percent, while China's H-share index is up 24.6 percent. Shanghai stocks have declined 1.76 percent this month.
** The top gainers among H-shares were Anhui Conch Cement Co Ltd up 2.71 percent, followed by Air China Ltd gaining 1.07 percent and China Merchants Bank Co Ltd up by 0.97 percent.
** The three biggest H-shares percentage decliners were Zhuzhou CRRC Times Electric Co Ltd which has fallen 2.29 percent, Great Wall Motor Co Ltd which has lost 2.1 percent and China Galaxy Securities Co Ltd down by 1.8 percent.
** As of 04:08 GMT, China's A-shares were trading at a premium of 29.91 percent over the Hong Kong-listed H-shares.
** The price-to-earnings ratio of the Shanghai index was 14.89 as of the last full trading day while the dividend yield was 1.9 percent.
** In Hong Kong, the sub-index for shares in the IT sector fell 1.3 percent. The top gainer on the Hang Seng was Hang Lung Properties Ltd up 2.26 percent, while the biggest loser was AAC Technologies Holdings Inc which was down 2.15 percent.
(Reporting by Shanghai Newsroom; Editing by Kim Coghill)