Tech-focussed STAR market lifts China shares; Hong Kong gains

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SHANGHAI, Jan 10 (Reuters) - China shares rose on Monday, led by Shanghai's tech focussed STAR Market amid reform expectations, while Hong Kong shares gained on sustained rebound in technology shares.

** China's bluechip CSI300 index (.CSI300) rose 0.4% to 4,839.22 at the end of the morning session, while the Shanghai Composite Index (.SSEC) gained 0.3% to 3,588.40.

** In Hong Kong, the Hang Seng index (.HSI) added 0.8%, while the Hong Kong China Enterprises Index (.HSCE) gained 1.2%.

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** Shanghai's STAR (.STAR50) rose 1.3% from near eight-month lows, after China's securities regulator said it would pilot market-making on the Nasdaq-style market, in a bid to deepen reforms and improve liquidity. read more

** In Hong Kong, the Hang Seng Tech Index (.HSTECH) is set to rise for the third consecutive session, up nearly 2% by the lunch break.

** The index has gained more than 7% from record lows hit last Thursday, as some investors think the sell-off in Chinese tech shares - fuelled by concerns of Beijing's crackdown - is overdone.

** Shares in China Life Insurance Co (601628.SS) fell nearly 2% in both China and Hong Kong, after Chinese Central Commission for Discipline Inspection (CCDI) said on Saturday that it had placed China Life's Chairman Wang Bin under investigation.

** Citi analysts said the news could "cast a shadow" over China Life's share price, as "investors may have concerns over the insurer's corporate governance as well as potential business disruptions brought by the Chairman change".

** Shares of Chinese property developer Shimao Group Holdings (0813.HK) jumped.

** Shimao Group has put on sale all of its real estate projects, including both residential and commercial properties, as the cash-strapped Chinese property developer accelerates asset disposals, Caixin reported. read more

** Shares of rival Longfor Group Holdings (0960.HK) also rose sharply, after the developer proposed to spin off and separately list its unit Longfor Intelligent Living Ltd.

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Reporting by Shanghai Newsroom; Editing by Rashmi Aich

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