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China, Hong Kong stocks rise on upbeat data, trade bloc

* SSEC 1.0%, CSI300 0.8%, HSI 0.4%

* HK->Shanghai Connect daily quota used 5%, Shanghai->HK daily quota used 2.7%

* FTSE China A50 +0.8%

SHANGHAI, Nov 16 (Reuters) - China and Hong Kong stocks started the week on a firm note after upbeat data pointed to a continued recovery in the world’s second-largest economy, with the establishment of a China-backed trade bloc aiding sentiment.

** The CSI300 index rose 0.8% to 4,893.92 at the end of the morning session, while the Shanghai Composite Index gained 1.0% to 3,342.23.

** The tech-heavy start-up board ChiNext added 0.4%, while Shanghai STAR50 index rose 1.2%.

** China’s factory output rose faster-than-expected in October and retail sales continued to recover albeit at a slower-than-forecast pace.

** Property investment was a key driver of broader spending, with October real estate investment up 12.7% from a year ago, the fastest pace since July 2018 and quickening from 12% seen in September, according to Reuters calculations based on NBS data.

** Materials firms led the gains on Monday, with the CSI300 materials index rising 3.8%. The index has gained 31% so far this year.

** Investors also welcomed the establishment of a China-backed trade bloc that excludes the United States.

** Fifteen Asia-Pacific economies formed the world’s largest free trade bloc on Sunday, which had left a rival Asia-Pacific grouping under President Donald Trump.

** Responding to Washington’s decision to ban U.S. investments in firms tied to the Chinese military, China’s commerce ministry said the U.S. should stop its unreasonable suppression of Chinese firms.

** In Hong Kong, the Hang Seng index added 0.4% to 26,263.41 and the Hong Kong China Enterprises Index lost 0.1% to 10,537.04. (Reporting by Luoyan Liu and Andrew Galbraith; editing by Uttaresh.V)

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