Hk shares gain 0.7 pct, led by China Life, resources

* China Life jumps in extended post-result relief rally

* Resources stocks rise amid higher commodity prices

* Turnover still thin ahead of key earnings

(Updates to mid-day)

HONG KONG, Aug 27 (Reuters) - Hong Kong shares rose 0.7 percent on Wednesday led by an extended post-earnings relief rally in top insurer China Life 2826.HK and gains in commodity-linked stocks on resurgent oil prices but turnover stayed thin ahead of key results on Wednesday.

Among the blue chips slated to announce their earnings were China Mobile (0941.HK), PetroChina (0857.HK), CNOOC (0883.HK), Esprit Holdings (0330.HK), Huaneng Power (0902.HK), Wharf Holdings (0004.HK) and Foxconn International Holdings (2038.HK).

Shares in China Life jumped 3.5 percent, adding to Tuesday's more than 2 percent gain as investors continued to cheer the company's smaller-than-expected decline in first half earnings.

"Investors were very sceptical and concerned ahead of the results, and now they are relieved that the earnings downside risk has passed," said Ben Lin, analyst with Nomura Securities.

The benchmark Hang Seng Index .HSI was up 148.14 points at 21,204.80.

Mainboard turnover rose to HK$30.4 billion ($3.9 billion) from HK$23.8 billion at mid-day on Tuesday.

Asia's largest wireless carrier China Mobile inched up 1 percent in the morning session. After the market halted for the mid-day break, the company posted 51 percent growth in its second quarter net profit at 30.7 billion yuan, beating analyst forecasts.

Offshore oil producer CNOOC (0883.HK) climbed 3.2 percent as oil prices hovered around $117 per barrel as Hurricane Gustav headed towards U.S. oil and gas installations in the Gulf of Mexico.

Asia's largest oil & gas company, Petrochina (0857.HK), was up 2.2 percent.

Coal stocks jumped in Hong Kong, defying declines in their Shanghai-listed scripts after Chinese authorities said they would strengthen enforcement of price caps on thermal coal.

"Today's gains don't reflect changes in the fundamentals in the market. The turnover is still very thiposting a lower-than-estimated 112.8 percent increase in net profit for the first half. Merrill Lynch said CNBM's net profit was 12 percent below its estimate and attributed it to lower profits at its Nanfang Cement unit.

(Reporting by Parvathy Ullatil; Editing by Ken Wills)