SHANGHAI, Dec 21 (Reuters) - China stocks rose on Thursday, rebounding from a near five-year low hit in the previous session, while Hong Kong shares were largely flat, weighed by weaker global markets after Wall Street snapped a long winning streak.

** The blue-chip CSI 300 Index rose 1%, but hovered around its lowest level since February 2019. The Shanghai Composite Index edged up 0.6%.

** Hong Kong's Hang Seng Index closed almost flat, and the Hang Seng China Enterprises Index added 0.1%.

** Asian shares retreated on Thursday after Wall Street snapped a long winning streak, while Treasury yields were near five-month lows on hopes Britain's notably soft inflation reading would be echoed in looming U.S. price data.

** In mainland China markets, shares in new energy , artificial intelligence and tourism companies jumped by between 1.5% and 2.7% to lead the gains.

** Foreign investors were net buyers of Chinese shares on the day, following two sessions of selling.

** "The market is near the bottom, there is not much room for further declines," said a broker analyst, who declined to give his name. "However, investor sentiment still remained weak, due to lingering worries about the recovery and policy stimulus."

** Some Chinese major commercial banks will cut time deposit rates on Friday, three sources with knowledge of the matter told Reuters after markets closed, a move to provide more room for reducing lending costs amid a faltering economy.

** In Hong Kong, tech giants slipped 0.4%. However, Alibaba and Meituan both rose 1.1%.

** "If monetary policy turns loose early next year, we can expect a major rebound," said Zhang Chi, an analyst at Sinolink Securities. "The sustainability of the rebound will mainly depend on the recovery and liquidity situation."

(Reporting by Shanghai Newsroom; editing by Subhranshu Sahu and Jason Neely)