** Chinese companies' US-listed shares fall premarket after mainland peers declined on Friday but booked their best week in a month, as investors lowered expectations for Beijing's fiscal stimulus package and took profit ahead of the announcement
** China, after market close, announced fresh round of fiscal support for its sputtering economy with a package that eases debt repayment strains for local governments
** Beijing will let local governments allocate 10 trillion yuan ($1.40 trillion) towards reducing off-balance sheet, or "hidden" debt
** The ceiling for local governments to issue special bonds will be raised to 35.52 trillion yuan from 29.52 trillion
** Concerns about China's long-term outlook have been compounded by the U.S. election win by Donald Trump, who has threatened tariffs in excess of 60% on all Chinese goods
** Shanghai Composite closed down 0.5% and blue-chip CSI 300 fell 1%
** Alibaba , JD.com and PDD Holdings down 2.7%-4%
** EV firms Li Auto falls 4.9%, Nio down 2.8% and Xpeng slips 2.1%
** Gaming stock Bilibili slides 4.2%, search engine giant Baidu down 2.3%, video platform iQIYI falls 2.8%
** Tencent Music down 2.3% and Weibo slips 2.6%
** Chinese ETFs such as iShares MSCI China ETF down 4.5%, KraneShares CSI China ETF slides 4.8% and iShares China Large-Cap ETF down 4.5%
(Reporting by Sukriti Gupta in Bengaluru)
((Sukriti.Gupta@thomsonreuters.com;))
