Updates closing prices
By Jiaxing Li
HONG KONG, March 27 (Reuters) - China and Hong Kong stocks rose on Thursday with tech and auto shares leading gains, shrugging off threats of new car tariffs from U.S. while JPMorgan upgraded its market outlook on China.
** China's blue-chip CSI300 index .CSI300 gained 0.3% and the Shanghai Composite index .SSEC added 0.2% at market close, both reversing losses at the opening hours.
** In Hong Kong, the Hang Seng Index .HSI was up 0.4% to recover from a three-week low. The Hang Seng Tech Index .HSTECH added 0.3%.
** The chip sector .CSI931865 rallied 1.3%, while automobiles sub-index .CSI931008 also reversed losses to climb up 0.9%, leading onshore markets higher.
** U.S. President Donald Trump unveiled a 25% tariff on imported cars starting next week, but also said he may give China a reduction in tariffs to get a TikTok deal done.
** "His confusing and contradicting statements make the markets somehow turn more nonchalant," said George Au, Phillip Securities' deputy sales director.
** Investors now tend to be less startled by his announcements, with many of the uncertainties already priced in, he added.
** Also aiding sentiments, JPMorgan joined Wall Street peers to turn more bullish on China, raising its year-end target for the MSCI China index's to 95. This is 7% higher than its previous call.
** The recent market volatility could last through US tariff policy moves in early April, strategists including Wendy Liu said in a note.
(Reporting by Jiaxing Li in Hong Kong; Editing by Janane Venkatraman)
((jiaxing.li@thomsonreuters.com +852 63358304))
