Asian stocks slide as China stimulus disappoints; bitcoin extends record rally#BTCBreaks80KATH #BTCNear82k

TOKYO (Reuters) - Hong Kong stocks led declines in Asia on Monday after Beijing's latest stimulus fell short of investor expectations, overshadowing Wall Street's record highs from Friday and futures pointing to further strength at the reopen.

Bitcoin climbed to an all-time high as Donald Trump's victory in the U.S. presidential election along with pro-crypto candidates being voted to Congress spurred expectations of a light-handed regulatory environment. The dollar traded not far from last week's four-month peak versus major peers as traders prepared for a key reading of U.S. consumer inflation this week, as well as a parade of Federal Reserve speakers, including Chair Jerome Powell on Thursday.

Hong Kong's Hang Seng tumbled 2.5% as of 0200 GMT, with a sub-index of mainland Chinese property shares tumbling 3.9%. Chinese blue chips weakened 0.3%.

Japan's Nikkei fell 0.3%. South Korea's Kospi lost 0.9% and Taiwan's benchmark slipped 0.7%.

Australia's share benchmark declined 0.4%, weighed down by commodity stocks, after oil and industrial metals weakened.

On Friday, after Chinese markets had closed, the National People's Congress Standing Committee unveiled a 10 trillion yuan ($1.39 trillion) debt package to ease local government financing strains and stabilise flagging economic growth.

However, the stimulus steps lacked the direct injection of money into the economy that some investors had hoped to see, particularly amid the threat of massive tariffs under the incoming Trump administration.

The Republican party is edging closer to sweeping both chambers of Congress, taking the Senate on election night and with Edison Research projecting it so far to have 214 seats of the 218 seats needed for control of the House, compared to 205 for Democrats.

Investors expect that Trump's second term in office will bring equities-boosting tax cuts and looser regulations.#BTCBreaks80KATH #BTCNear82k $BTC