SHANGHAI, May 27 (Reuters) - Mainland China and Hong Kong shares rose on Monday, led by coal stocks, while investor sentiment was lifted by growing industrial profits in April.

** China's industrial profits swung back into positive territory in April while growth over the first four months held steady, official data showed on Monday, suggesting policies to bolster the economy were starting to take effect.

** Investors will closely monitor economic data at both home and from abroad this week, including China's May manufacturing data and the U.S. core personal consumption expenditures price index, for more clues on the market's trajectory.

** By the midday break, the Shanghai Composite index was up 0.37% at 3,100.22 points and the blue-chip CSI 300 was up 0.34%.

** The CSI's financial sector sub-index was up 0.7%, while coal stocks outperformed the markets, with a sub-index tracking the sector gaining 2.04%.

** Chinese H-shares listed in Hong Kong rose 0.31% to 6,625.5, while the Hang Seng Index was up 0.31% at 18,665.79.

** However, the Shenzhen index was down 0.55%, the start-up board ChiNext Composite index fell 0.65% and Shanghai's tech-focused STAR50 index declined 0.78%.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.39% while Japan's Nikkei index was up 0.20%. (Reporting by Shanghai Newsroom; Editing by Varun H K)