* HK->Shanghai Connect daily quota used 7.9 pct, Shanghai->HK daily quota used 0 pct
* HSI +1.0 pct, HSCE +1.1 pct, CSI300 +0.3 pct
* FTSE China A50 +1.8 pct
SHANGHAI, April 29 (Reuters) - Hong Kong stocks ended higher on Monday, tracking gains in other Asian markets, after strong U.S. first-quarter economic growth and data showing profits at Chinese industrial firms grew for the first time in four months.
** The Hang Seng index rose 1.0 percent, to 29,892.81 while the China Enterprises Index gained 1.1 percent, to 11,638.18.
** U.S. economic growth accelerated in the first quarter, but the burst in growth was driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, temporary boosters that are seen weighing on the economy later this year.
** In China, fresh data showed industrial profits grew in March after four months of contraction, but analysts said sentiment remained fragile. Economists polled by Reuters expect factory activity in the world’s second-largest economy to grow at a steady but modest pace in April.
** All eyes were on progress in Sino-U.S. trade negotiations.
** U.S. negotiators head to China on Tuesday to try to hammer out details to end the two countries’ trade war, including the shape of an enforcement mechanism, the success or failure of which could set the trajectory of ties for years to come.
** Around the region, MSCI’s Asia ex-Japan stock index rose 0.54 percent.
** The yuan was quoted at 6.7351 per U.S. dollar at 08:14 GMT, 0.08 percent weaker than the previous close of 6.73.
** The top gainers among H-shares were China Railway Group Ltd, up 4.11 percent, followed by Air China Ltd , up 3.64 percent and CSPC Pharmaceutical Group Ltd , up 3.39 percent.
** The three biggest H-shares percentage decliners were New China Life Insurance Co Ltd, down 2.72 percent, Haitong Securities Co Ltd, down 1.7 percent and Huatai Securities Co Ltd, down 1.3 percent.
** About 1.29 billion Hang Seng index shares were traded, roughly 73.9 percent of the market’s 30-day moving average of 1.75 billion shares a day. The volume traded in the previous session was 1.45 billion.
** At close, China’s A-shares were trading at a premium of 24.72 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Shreejay Sinha)