* SSEC -0.5%, CSI300 -0.6%, HSI +0.6%
* HK->Shanghai Connect daily quota used -2%, Shanghai->HK
quota used 2.6%
* FTSE China A50 -1.5%
SHANGHAI, June 18 (Reuters) - China stocks were weighed down
by consumer and energy firms on Friday and set for their third
straight weekly drop on worries over lofty valuations and
** The CSI300 index fell 0.6% to 5,069.32 by the
end of the morning session, while the Shanghai Composite Index
slipped 0.5% to 3,508.29. Both were down for a fourth
session in five.
** Leading the decline on Friday, the CSI300 consumer
staples index shed 2.6%, weighed down by liquor
makers as investors fretted over high valuations.
** The CSI300 energy index dropped 2.3% as oil
** For the week, CSI300 slumped 3% and SSEC lost 2.3%, both
set for their worst week since late February.
** Market participants were worried about an end to easy
monetary policy as data pointed to a quick recovery in overseas
economies, which could weigh on stocks with frothy valuations,
said Hu Yunlong, a Beijing-based hedge fund manager.
** The U.S. Federal Reserve on Wednesday began closing the
door on its pandemic-driven monetary policy as officials
projected an accelerated timetable for interest rate increases.
** Adding to the pressure for the week were tensions between
Beijing and the West.
** China denounced on Monday a joint statement by the Group
of Seven leaders that had scolded Beijing over a range of issues
as a gross interference in the country's internal affairs.
** Bucking the broad weakness, tech stocks shined in the
week on signs of more policy support from Beijing.
** The CSI all-share semiconductors and semiconductor
equipment index rose 0.9% to a 10-month high, while
Shanghai's tech-focused STAR50 index jumped 3.4% and
was set for a sixth week of gains in a row.
** The Hang Seng index climbed 0.6% to 28,728.14,
while the Hong Kong China Enterprises Index gained 0.3%
(Reporting by Luoyan Liu and Andrew Galbraith; Editing by