SHANGHAI, Oct 20 (Reuters) - Hong Kong stocks hit a near six-week high on Wednesday, aided by a sustained rebound in technology names, while China shares were range-bound amid lingering uncertainty around monetary policies and China Evergrande Group's debt woes.

** The Hang Seng index rose 1.3% to 26,125.96 in morning trade and was on track for a fourth straight session of gains.

** In mainland China, the bluechip CSI300 index rose 0.1%, while the Shanghai Composite Index was unchanged.

** The Hang Seng Tech Index, which tracks Hong Kong-listed tech giants including Alibaba Group Holding Ltd and Tencent Holdings, jumped 3.1%, having bounced more than 15% from a record closing low hit on Oct. 6.

** Low valuation has attracted bargain hunting after the sector was knocked down by Beijing's crackdown.

** "The sector's valuation has reached the lower end of its historical range, we are raising our tactical allocation for the internet sector from underweight to equal weight," Meng Lei, strategist at UBS Securities, wrote in a note.

** Reflecting buying interest from mainland investors, the E Fund CSI Overseas China Internet 50 ETF saw a near doubling in fund units in the third quarter.

** The mainland China stock market is still searching for direction, as worries over economic growth slowdown persist amid the Evergrande debt crisis and power shortages.

** China maintained its benchmark lending rate for corporate and household loans for an 18th month at its October fixing, but some analysts think easing is imminent.

** "The big picture is that the economy's rebound is faltering, and the property sector downturn set to deepen," wrote Julian Evans-Pritchard, China economist at Capital Economics.

** "We continue to think the PBOC will start lowering policy rates, including the LPR, before the end of this year, followed by more reductions in 2022."

** China's real estate stocks fell 1.7%, as new home prices stalled for the first time since February 2020 in September amid Beijing's sustained crackdown on speculative investment.

** China's coal and energy stocks tumbled after the state planner vowed to take all necessary measures to bring high coal prices back to a reasonable range. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)