Hong Kong stocks climb on sustained mainland demand

* HK->Shanghai Connect daily quota used 3.2%, Shanghai->HK daily quota used 15.5%

* HSI +1.2%, HSCE +1.4%, CSI300 +1.5%

* FTSE China A50 +1.3%

SHANGHAI, Feb 2 (Reuters) - Hong Kong stocks ended higher on Tuesday, underpinned by consumer and industrial firms, as mainland investors continued to pour money into the Asian financial hub.

** The Hang Seng index rose 1.2%, to 29,248.70, while the China Enterprises Index gained 1.4%, to 11,609.02.

** Leading the gains, the Hang Seng consumer discretionary index and Hang Seng industrials index closed up 3.2% and 4.3%, respectively.

** Mainland investors on Tuesday bought a net HK$17 billion worth of Hong Kong stocks via the Stock Connect linking mainland and the Asian financial hub, extending their buying spree.

** In January, their southbound purchases totalled HK$310 billion, the highest on a monthly basis, according to HKEX.

** More mainland funds will be attracted to Hong Kong stocks whose valuations remain lower than those of A-share market, U.S. and European markets, Guosen Securities (HK) noted in report.

** The brokerage said Hong Kong-listed mainland companies were expected to post solid earnings thanks to China’s economic recover.

** Sentiment also got a boost as China’s central bank, the People’s Bank of China (PBOC), injected liquidity, easing worry over persistently tight liquidity.

** China’s short-term money rates eased to two-week lows, as signs of liquidity tension in the interbank money markets started to fade. The PBOC injected a net 78 billion yuan ($12.08 billion) into money markets.

** Adding to market optimism, China reported the fewest new COVID-19 cases in a month as imported cases overtook local infections. (Reporting by the Shanghai Newsroom Editing by Robert Birsel)