* SSEC up 0.1%, CSI300 up 0.1%, HSI up 0.8%
* HK->Shanghai Connect daily quota used 5.2%, Shanghai->HK
quota used 1.5%
* FTSE China A50 +0.5%
SHANGHAI, Aug 4 (Reuters) - China stocks firmed on Tuesday,
driven by strong gains in banks as investors cheered Beijing's
latest move to ease pressure on the country's financial
** The CSI300 index rose 0.1% to 4,775.13 points
at the end of the morning session, while the Shanghai Composite
Index firmed 0.1% to 3,371.00 points.
** Banks led the gains, with the CSI300 banks index
up 2.1% by the midday break and bellwether Bank Of
Chengdu surging as much as 10%.
** The valuations of Chinese banks are now at historically
low levels with sufficient safety margin and allocation value,
analysts at Northeast Securities said in a report.
** China will extend the grace period for implementation of
sweeping asset management rules to the end of 2021, the central
bank said on Friday.
** The one-year extension will help ease the impact of the
pandemic on financial institutions' asset management businesses
and help avoid the pressure on them caused by the centralised
disposal of stock assets, the central bank said in a statement
on its website.
** Tuesday's gain followed a strong rally on Monday,
underpinned by upbeat domestic factory data.
** Although market participants remained wary of
uncertainties around Sino-U.S. relations.
** The uncertainties around Sino-U.S. relations are
increasing and would persist until the 2020 U.S. election, which
could weigh on the market, said Zhang Chengyu, vice general
manager of vice general of Beijing-based Shiji Hongfan Asset
** China will not accept the "theft" of a Chinese technology
company and is able to respond to Washington's move to push
ByteDance to sell short-video app TikTok's U.S. operations to
Microsoft, the China Daily newspaper said on Tuesday.
** In Hong Kong, the Hang Seng index added 0.8%, to
24,659.93 points, while the Hong Kong China Enterprises Index
gained 1.2%, to 10,157.03.
(Reporting by Luoyan Liu and Andrew Galbraith; Editing by