Hong Kong shares cool off, China stocks edge lower
* HSI -0.7 pct, H-shares - 0.7 pct, CSI300 -0.2 pct
* Hang Seng Index might have best weekly gain since Sept
* Greentown China up 5.9 pct on Sunac bid to buy 30 pct (Updates to midday)
By Grace Li and Chen Yixin
HONG KONG/SHANGHAI, May 16 (Reuters) - Hong Kong shares shed early gains on Friday in a consolidation after a rally, but the benchmark index might still produce its best week in more than eight months.
China stocks also fell slightly as investors were anxious about the anticipated restart of initial public offerings (IPOs) and the possibility a slowdown in the Chinese economy will linger.
At midday, the Hang Seng Index was down 0.7 percent at 22,583.79 points, but still up 3.3 percent on the week. If that weekly gain is maintained in the afternoon, the index will have its biggest advance since the week ended Sept. 6.
The China Enterprises Index of the top Chinese listings in Hong Kong was also down 0.7 percent and was up 2.2 percent for the week.
The CSI300 index of the largest Shanghai and Shenzhen A-share listings was off 0.2 percent on Friday, while the Shanghai Composite Index shed 0.3 percent. The Shanghai benchmark was at 2019.04 points, up 0.4 percent on the week. Continuación...