Nov 21, 2024 at 4:48 am GMT
HONG KONG (Reuters)- China and Hong Kong stocks edged lower on Thursday as investors weighed the potential impact of U.S. tariff hikes against expectations of more fiscal stimulus from Beijing.
** By the midday break, the Shanghai Composite index. SSEC was down 0.1% at 3,364.64 points and the blue-chip CSI 300 index.CSI300lost 0.22%.
** The consumer staples sector.CSI000912, real estate.CSI000952and the healthcare sub-index.CSI300HCfell 0.43%, 0.8% and 0.85%, respectively.
** Hong Kong's benchmark Hang Seng Index.HSIslipped 0.13% to 19,680.23.
** Sentiment was largely downbeat after a poll of more than 50 economists by Reuters showed the U.S. could impose nearly40% tariffson 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.
** On the flip side, a gauge tracking automobile sector.CSI931008advanced 1.08% after state media Xinhua reported that China plans to extend car trade-inincentivesinto 2025 to stabilise market expectations.
** Around the region, MSCI 's Asia ex-Japan stock index.MIAPJ0000PUSwas weaker by 0.27% while Japan's Nikkei index.N225was down 0.98%.
Reporting by Hong Kong Newsroom; Editing by Varun H K
Sumber : Reuters
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