Nov 13, 2024 at 4:45 am GMT
HONG KONG (Reuters) -Hong Kong slipped while China stocks were flat at midday on Wednesday in volatile trade, as investors continued to digest U.S. President-elect DonaldTrump's plans to appoint China hawks to key cabinet positions.
Hong Kong's Hang Seng benchmark .HSI fell 0.6% by the noon break to a seven-week low.China's blue-chip CSI 300 .CSI300 edged up 0.1% after losing as much as 0.6%, and the Shanghai Composite . SSEC was little changed.
The Golden Dragon China Index .HXC tumbled 4.5% overnight in New York.
Marco Rubio, who has harshly criticised China, is set to become secretary of state, while Mike Waltz is set to become national security adviser, sources have said.
"Investors are now focused on Trump's cabinet picks to gauge whether his China policy will be more hawkish than during his first term," said Jason Chan, senior investment strategist at Bank of East Asia.
"Short-term sentiment on China is likely to remain weak amid uncertainties around him."
The Hang Seng benchmark .HSI has declined nearly 15% since the October peak to a seven-week low, poised to erase all gains made since Beijing unveiled a major stimulus package in late September. While the government has announced further support measures since then, investors have found them to be disappointing.
Mainland property developersled the fall in Hong Kong on Wednesday, with a sub-index.HSMPI tracking the sector down 2.3%.
CSI Energy .CSIEN added 1%, lifting onshore markets higher.
The mood onshore was also aided by Nomura bumping up its China growth forecast, citing some signs that economic activity may be picking up.
Nomura's growth forecast for the fourth quarter was revised up to 4.9% year-on-year 4.4%, while the annual GDP growth forecast was revised to 4.8% from 4.7%, analysts at the Japanese broker said in a note. However, it kept its 2025 forecast at 4.0%.
The yuan bounced off a more than three-month low against the dollar on Wednesday, lifted by firmer-than-expected official midpoint guidance.
 Reporting by Hong Kong Newsroom; Editing by Edwina Gibbs and Kim Coghill 

Sumber : Reuters