China, Hong Kong stocks rebound in choppy trade on caution amid steady lending rates
Updates closing price, adds movers
HONG KONG, Nov 20 (Reuters) -China and Hong Kong stocks edged higher in volatile trading on Wednesday, with mainland shares supported by AI stocks ahead of Nvidia's earnings later in the day, while investorsremained cautious amid steady lending rates.
** The Shanghai Composite index .SSEC closed up0.66% at 3,367.99.
** The blue-chip CSI300 index .CSI300 ended up0.22%, with the consumerstaples sector .CSI000912 and the healthcare sub-index .CSI300HC closing 0.37% and 2.13% higher, respectively.
** The CSI300 Artificial Intelligence Index .CSI930713 climbed 1.5% ahead of Nvidia's.NVDA.O report card later in the day.
** Hong Kong's benchmark Hang Seng Index .HSI gained 0.21% at 19,702.79.
** China's central bank left key lendingrates unchanged at the monthly fixing on Wednesday, after recent rate cuts squeezed banks' profitability and the yuan came underfresh pressure with Donald Trump's imminent return to the White House.
** Market fundamentals have improved following the recent policy measures buthaven't shown significant strength yet. The market rotation among major sectors is likely to stay with no clear signs of earnings bottoming out, analysts at Sinolink Securities said in a note.
** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.19%.
** Chinese ADRs .HXC fell 0.75% overnight.
** Elsewhere, major Chinese fund companies announced a reduction in fees for a batch of equity exchange-traded funds (ETFs), after China's chief securities regulator Wu Qing pledged to encourage index investment and fund industry fee reform.
Reporting by Hong Kong Newsroom; Editing by Rashmi Aich and Sumana Nandy
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