Hong Kong, Feb 17 (Reuters) - China and Hong Kong stocks fell on Friday, weighed down by some tech stocks, as upbeat U.S. economic data revived market concerns that China's central bank might delay more easing measures to support the pandemic-hit economy.

** The market had previously expected more interest rate cuts from the Chinese central bank to support the economy. But with the U.S. Federal Reserve now expected to keep rates higher for longer, further rate cuts from China could widen the policy rate gap between the two countries and pose more challenges for China to stablize its economy.

** China's blue-chip CSI300 Index dropped 0.48% by the lunch break, while the Shanghai Composite Index lost 0.16%.

** Hong Kong benchmark Hang Seng was down 0.58%.

** Asian equities slipped, while the dollar hovered around six-week highs as economic data and hawkish comments from Fed officials revived fears that the U.S. central bank will stick to its monetary tightening path.

** U.S. producer price index (PPI) rebounded 0.7% in January, the largest increase since June.

** "The stronger than expected monthly PPI data, combined with the sticky consumer inflation released earlier this week, are clouding the Hong Kong and China markets," said Kenny Ng, securities strategist, Everbright Securities International.

** "Investors worry that if U.S. rate stays higher for longer, this would narrow the room for China's central bank to ease interest rates further, as a widening of the gap between the two countries' interest rates would fuel portfolio outflow."

** CSI Computer Index lost 3.25%, while the CSI Internet Finance Index fell 2.53%.

** Hang Seng Tech Index lost 1.46 %, weighed down by China internet search engine giant Baidu Inc., and Kingsoft.

** Shares of China Renaissance, a boutique investment bank active in underwriting Hong Kong IPOs, plunged 26.5% to a record low, after the company said it was unable to contact its chairman and chief executive Bao Fan. (Reporting by Georgina Lee, Hong Kong Newsroom)