SHANGHAI, June 28 (Reuters) - China stocks reversed losses at market close on Friday as the first 2024 U.S. presidential election debate was light on criticisms against China, offering nervous investors - on guard for policy hints that could affect the country's economy - a breather.

U.S. President Joe Biden and his predecessor Donald Trump, the two candidates in the debate, have both favoured a tough trade stance by imposing and threatening tariffs, particularly on China.

China's benchmark CSI300 closed up 0.2%, after opening 0.3% lower. Hong Kong's Hang Seng Index ended almost unchanged.

China's CSI Aviation Industry Aerospace Defence Index jumped 3.5% in a sign of hedging potential geopolitical risks.

Meanwhile, shares of software company Wisesoft Co Ltd , whose Chinese name sounds like "Trump's big win" jumped by the daily maximum of 10%, reflecting Chinese speculative bets that Donald Trump will prevail in the election.

For the first half this year, China's CSI 300 edged up 0.9%, while the Hang Seng Index added 3.9%.

"Market is anticipating China-bashing (being) an election item. They have not talked much on the subject; that is, in a sense, good for the Chinese market," said Redmond Wong, Greater China strategist at Saxo.

The two candidates traded barbs on abortion, immigration, the wars in Ukraine and Gaza, their handling of the economy and even their golf games as they each sought to shake up what opinion polls show has been a virtually tied race for months.

The market had expected potential discussions during the debate on tariffs as the United States' China policies might dent investor sentiment in China markets.

"Conflicts between China and the U.S. generally increase before the U.S. election," SPDB International said in a note.

"If there are emergencies in the second half of this year that lead to a sharp deterioration in Sino-US relations, or if Trump is elected and continues to reiterate a substantial increase in overall tariffs on Chinese exports, confidence in China's capital market and the economy will be affected."

Last month, Biden unveiled steep tariff increases on an array of Chinese imports including electric vehicle batteries, computer chips and medical products, risking an election-year standoff with Beijing as he wooed American voters who give his economic policies low marks.

Trump said the new tariffs should be applied to other types of vehicles and products, criticising Biden for not doing more on Chinese exports sooner.

Trump's broader imposition of tariffs during his 2017-2021 presidency kicked off a tariff war with China. As a candidate this year, he has floated tariffs of 60% or higher on all Chinese goods and a 10% across-the-board tariffs on goods from all points of origin.

On the data front, investors awaited figures for May's U.S. core personal consumption expenditures (PCE) price index - the Fed's preferred measure of inflation - due later on Friday and could offer further clarity on the U.S. rate outlook. (Reporting by Shanghai Newsroom; Editing by Jamie Freed and Janane Venkatraman )