SHANGHAI, Dec 20 (Reuters) - China stocks fell on Monday after a rate cut in China's lending benchmark failed to lift investor sentiment, with analysts saying its impact on the economy would be limited.

The CSI300 index fell 1% to 4,906.38 by the end of the morning session, while the Shanghai Composite Index lost 0.8% to 3,605.21.

The Hang Seng index dropped 1.4% to 22,858.50. The Hong Kong China Enterprises Index lost 1.5% to 8,098.62.

** China cut its lending benchmark loan prime rate (LPR) for the first time in 20 months, matching market expectations, in a bid to prop up the slowing economy.

** The one-year LPR was lowered by 5 basis points, while the five-year LPR remained unchanged. Analysts said the decision to keep the five-year rate unchanged showed Beijing preferred not to use the property sector to stimulate economic growth.

** "The mini rate cut itself is unlikely to have a big impact on the economy," said Zhiwei Zhang, chief economist at Pinpoint Asset Management. Some analysts expect Beijing could ease further to arrest the economic slowdown.

** New energy stocks tumbled 3.8%, with new energy vehicles and the photovoltaic industry down 3.2% and 4.1%, respectively.

** Coal miners and non-ferrous metal shares declined more than 2.5% each, while the machinery sub-index slumped 3%.

** However, real estate developers gained 1.8%, after the official China Securities Journal said China was urging large private and state-owned property companies to acquire real estate projects from troubled developers to reduce risks that mounting debt piles would destabilise the economy.

** Hong Kong shares extended losses to a 20-month low, with tech giants, healthcare firms and mainland property developers down between 2.4% and 3%.

** Kaisa Group plunged 14%. The embattled property developer said it had not received any notice from bondholders to accelerate repayments yet as it had not repaid a $400 mln offshore bond.

(Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)