* CSI300 +1.8pct; SSEC +1.9pct; HSI +0.9pct
* China funds hold $161 bln to re-enter market-state media
* Market likely to see a rebound in Aug-analyst
HONG KONG, Aug 7 (Reuters) - China stocks rose on Friday after reports that trillions of yuan funds will likely re-enter the equity market from a Chinese government agency and a bunch of China funds.
The CSI300 index rose 1.8 percent to 3,901.92 at the end of the morning session, while the Shanghai Composite Index gained 1.9 percent to 3,731.03.
China CSI300 stock index futures for August rose 3.6 percent to 3,892, or 9.92 points below the current value of the underlying index.
The Chinese government agency tasked with buying stocks to prop up the country's wobbling markets is seeking an additional 2 trillion yuan ($322 billion) in funds, Bloomberg reported on Thursday.
Meanwhile, close to 300 China funds that oversee more than 1 trillion yuan are sitting on the sidelines with "ammunition" to enter the stock markets at any time, the Shanghai Securities News reported on Friday, citing its own calculations.
"My feeling is that funds in the stock market are quite sufficient now and there's very high possibility the market will rebound in August," said Zhang Qi, an analyst at Haitong Securities in Shanghai.
The A shares have seen its value wiped out by more than 30 percent since mid-June despite a slew of supportive measures from the Chinese government.
Goldman Sachs analysts estimate that the "national team" has potentially spent 860-900 billion yuan to support the stock market in June-July and the potential aggregate size of market-support funds is probably around 2 trillion yuan.
"This implies sufficient market-support funds to continue to provide a downside cushion to the equity market as the later stages of retail deleveraging unfold," the analysts said in a report.
In Hong Kong, the Hang Seng index added 0.9 percent to 24,604.04.
The Hong Kong China Enterprises Index gained 1.9 percent to 11,303.10.
The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 135.40.
A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa.
The northbound quota for the Hong Kong-Shanghai Stock Connect, currently set at 13 billion yuan, saw net inflows of 0.57 billion yuan.
Total volume of A shares traded in Shanghai was 18.49 billion shares, while the Shenzhen volume was 14.23 billion shares.
Total trading volume of companies included in the HSI index was 0.6 billion shares.
China stock market graphics suite reut.rs/1HcUe19
(includes timeline of crash, PE ratios, market caps)
A-share account openings spike bit.ly/1wvJ9S9
Comparison of stock indexes and selected company stocks
Chinese A-shares vs developed and emerging stocks
link.reuters.com/rac25w (Reporting by Michelle Chen; Editing by Subhranshu Sahu)