* CSI300 +1.5 pct, SSEC +1.6 pct; HSI +0.12 pct
* China allows IPOs to resume after being suspended in July
* Banks and finance firms rise on bargain hunting
SHANGHAI, Nov 9 (Reuters) - Chinese equities rose on Monday, underpinned by the securities regulator's move on Friday to allow initial public offerings (IPOs) to resume after a more than 3-month halt.
The CSI300 index rose 1.5 percent, to 3,848.77 points at the end of the morning session, while the Shanghai Composite Index gained 1.6 percent, to 3,648.42 points.
China CSI300 stock index futures for November rose 1.1 percent, to 3,785.2, 63.57 points below the current value of the underlying index.
Analysts say China's abrupt equity market crash this summer, which pushed the benchmark CSI300 index down around 40 percent, was exacerbated by a stampede of firms looking to list while prices were at their peak in late spring and early summer.
Companies in mainland China had raised $23.4 billion in IPOs in 2015 through mid-June before regulators suspended deals, far surpassing the $13.2 billion in all of 2014, Thomson Reuters data showed.
At one point the CSRC was letting 40 companies list every week and there were even more secondary issuances.
But with equities now up around 20 percent from their late summer lows - technically marking a return to a bull market - regulators appear to have concluded that sentiment has recovered sufficiently to permit some new additional supply of shares.
Banking and finance shares led the major indexes higher in morning trade, as investors piled into stocks which had been beaten down in the midst of the equity correction.
"The re-launch of IPOs gave out a sign that the market has started to be normal and relatively stable after a series of crackdowns and corrections," said an equity trader at a securities company in Shanghai.
"The banking shares, with low valuations, might be the first choice for investors, attracting bargain-hunting buyers."
Adding to the good news on Monday was the successful Hong Kong IPO of China International Capital Corp, China's oldest domestic investment bank. The IPO raised $811 million, and shares jumped up to 11 percent in the company's Hong Kong debut.
Traders said they believed the renewed bullish trend still had room to run, although many investors were still sitting on losses from the abrupt correction this summer.
"Everybody believes that the government will support the market by permitting IPOs to resume," said Zheng Weigang, a senior trader at Shanghai Securities.
"So each small fall in the index is taken by many as an opportunity to obtain bargains. As such, there is little room for the index to correct, and many now believe that the main Shanghai Composite Index is heading for 4,000 points shortly."
The Hang Seng index added 0.1 percent, to 22,894.91 points.
The Hong Kong China Enterprises Index gained 0.5 percent, to 10,609.97.
The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 138.64.
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 outflows of 1.02 billion yuan.
Total volume of A shares traded in Shanghai was 30.42 billion shares, while Shenzhen volume was 24.48 billion shares.
Total trading volume of companies included in the HSI index was 0.8 billion shares.
Reporting by Nathaniel Taplin, Lu Jianxin and the Shanghai Newsroom; Editing by Jacqueline Wong