China, Hong Kong stocks mixed as market weighs US tariff concerns, stimulus hopes
Updates closing prices, adds movers
HONG KONG, Nov 21 (Reuters) -China and Hong Kong stocks were mixed after a volatile session on Thursday as investors weighed the potential impact of U.S. tariff hikes against expectations of more fiscal stimulus from Beijing.
** Both theShanghai Composite index .SSEC and the blue-chip CSI 300 index .CSI300 added less than 0.1% at close after losing as much as 0.3% in earlier trade.
** Hong Kong's benchmark Hang Seng Index .HSI slipped 0.5% to 19,601.11.
** Leading gains on the mainland,a gauge tracking automobile sector .CSI931008 advanced 1.1%after state media Xinhua reported that China plans to extend car trade-in incentives into 2025 to stabilise market expectations.
** The CSI Semiconductor Index .CSI931865 also edged up 0.6%, with China's biggest chip maker Semiconductor Manufacturing International Corp .688981.ss added 0.2% and Hua Hong Semiconductor .688347.SS gaining 0.9%, as tradersupped bets on the domestic tech sector amid geopolitical tensions.
TARIFF CONCERNS
** Sentiment was largely downbeat throughout the day aftera poll of more than 50 economists by Reuters showed the U.S. could impose nearly 40% tariffs on imports from China early next year. That could potentially slice growth in the world's second-biggest economy by up to 1 percentage point.
** Beijing could announce a higher fiscal deficit and more bond issuance in 2025 to support land and built-home buybacks as well as bank capital injection, in addition to potential stimulus to offset the shock from U.S. tariffs in the near future, analysts at Bank of America said in a note.
** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.5%while Japan's Nikkei index .N225 was down 0.9%.
Reporting by Hong Kong Newsroom; Editing by Varun H K and Eileen Soreng
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