* SSEC and CSI300 +0.07%, HSI -0.92%

* China industrial production growth misses forecasts

* Protests paralyse Hong Kong for fourth straight weekday

* Tencent profit drop weighs on HSI; Alibaba launches HK share sale

SHANGHAI, Nov 14 (Reuters) - Chinese equities wavered between small gains and losses on Thursday after data showed a sharper slowdown in industrial activity in October, adding to the case for Beijing to roll out new measures to support economic growth.

** China’s industrial production rose 4.7% year-on-year in October, significantly slower than expected on weakness in global and domestic demand, and as a drawn-out trade war with the United States weighed on activity. ** China’s benchmark Shanghai Composite index turned lower just after the data was released, and spent the rest of the session in and out of negative territory. At the midday break, it stood 0.07% firmer at 2,907.23 points. ** China’s blue-chip CSI300 index was up 0.07%, with its financial sector sub-index lower by 0.38%, the consumer staples sector up 0.33%, the real estate index down 0.06% and the healthcare sub-index up 1.21%. ** Hong Kong’s Hang Seng Index was down 0.92% to 26,326.24 at the midday break as anti-government protesters paralysed parts of the city for a fourth straight day on Thursday. Chinese H-shares listed in Hong Kong fell 0.9% to 10,424.07. ** The Hang Seng was weighed down by losses in index heavyweight Tencent Holdings Ltd, which dropped 2.69% after the gaming and social media company posted a surprise 13% drop in quarterly profit. A sub-index of the Hang Seng tracking the IT sector fell 1.7%. ** The falls come despite Alibaba Group launching the share sale for its Hong Kong listing on Wednesday, in what is seen as a boost for the city. ** The smaller Shenzhen index was up 0.4% and the start-up board ChiNext Composite index was higher by 0.46%. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.45%, while Japan’s Nikkei index was down 0.96%. ** The yuan was quoted at 7.0225 per U.S. dollar, 0.01% firmer than the previous close of 7.023. ** The largest percentage gainers in the main Shanghai Composite index were Eastern Gold Jade Co Ltd, up 10.16%, followed by Super Telecom Co Ltd, gaining 10.02% and NINGBO BIRD Co Ltd, up by 10%. ** The largest percentage losses in the Shanghai index were Shangying Global Co Ltd, down 10.01%, followed by Jiangsu Fengshan Group Co Ltd, losing 7.13% and Anhui Andeli Department Store Co Ltd, down by 7.11%. ** So far this year, the Shanghai stock index is up 16.49%, while China’s H-share index is up 3.9%. Shanghai stocks have declined 0.81% this month. ** The top gainers among H-shares were Fosun International Ltd , up 0.76%, followed by China Vanke Co Ltd, gaining 0.72% and Geely Automobile Holdings Ltd, up by 0.55%. ** The three biggest H-shares percentage decliners were China Telecom Corp Ltd, down 2.88%, Sinopharm Group Co Ltd , which fell 2.74% and Tencent Holdings Ltd, which lost 2.69%. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 1.1%. The top gainer on the Hang Seng was AAC Technologies Holdings Inc, up 3.71%, while the biggest loser was Tencent Holdings Ltd, down 2.69%. (Reporting by Andrew Galbraith; Editing by Aditya Soni)