* SSEC 0.5 pct, CSI300 1.0 pct, HSI -0.1 pct
* China rose as investors hunt for high-dividend shares
* HK dips as oil price wavers ahead of OPEC meeting
SHANGHAI, Nov 29 China's blue-chip CSI300 index
is on track to rise for a seventh straight day, as
investors, led by insurers, bet on modestly-valued,
high-dividend sector leaders, reflecting growing confidence in
Hong Kong markets dipped, however, weighed down by energy
shares as oil price dipped on doubts that producer cartel OPEC
would hammer out a output cut at a meeting on Wednesday.
Mainland stocks reversed early losses and ended the morning
session in positive territory. The CSI300 index rose
1.0 percent, to 3,569.61 points, while the Shanghai Composite
Index gained 0.5 percent, to 3,291.66 points.
The market has been propped up fresh signs that China's
economy is stabilizing. A Reuters poll showed that activity in
China's manufacturing sector likely held onto a modest
expansionary trend this month.
After the Shanghai regulator's latest measure to calm a
frothy property market an index tracking mainland real estate
market opened 0.5 percent down but soon recovered
and ended the morning session roughly flat.
The regulator announced late Monday an increase in the
minimum required downpayment and it also tightened eligibility
for buyers of first homes.
"Developers like Vanke reported good financial results and
are abundant in cash, so their shares will continue to rise
despite the policies," said Ren Chengde, senior analyst at
Galaxy Securities in Shanghai.
"The markets are now fixated with companies with good cash
flow performance. More cash means more dividends," Ren said,
adding that insurers were snapping up industrial companies for
the sake of higher dividends.
Anbang Insurance Group's high-profile move to increase its
stake in China State Construction Engineering have
sent the company's share price soaring. The company's shares
added over 7 percent on Tuesday morning.
Most main sectors in China rose, with utilities
and consumer staples leading the gain, as investors
piled into non-cyclical shares for their stability and
Index heavyweight Inner Mongolia Yili Industrial Group Co
Ltd jumped nearly 9 percent, to 17-month high.
Sunshine Insurance boosted its stake in Yili to 5 percent in
September, fuelling speculation that the insurer might buy more.
Industry leader Media Group Co Ltd gained more
than 4 percent and climbed to a record high. Kweichow Moutai Co
Ltd added nearly 2 percent.
In Hong Kong, the benchmark Hang Seng index dropped
0.1 percent, to 22,819.54 points. The Hong Kong China
Enterprises Index lost 0.2 percent, to 9,859.36 points.
(Reporting by Jackie Cai and John Ruwitch; Editing by Simon