* CSI300 -0.18 pct; SSEC flat; HSI -0.19 pct
* IPO worries offset impact of fresh monetary easing
* 28 IPOs expected by year-end to freeze 3.5 trillion yuan
SHANGHAI, Nov 20 (Reuters) - China stocks were little changed early on Friday despite fresh monetary easing as caution dominated investor sentiment ahead of a flurry of listings and after a sharp rebound from August lows.
Chinese stocks have rebounded some 25 percent since then, after plunging more than 40 percent from mid-June to August.
Hong Kong market also experienced a calm morning session as investors awaited fresh cues for direction.
China's blue-chip CSI300 index dipped 0.18 percent to 3,768.06 points by the lunch break, set for a weekly gain of less than 1 percent. The Shanghai Composite Index was almost flat, at 3,619.65, and is poised to rise 1 percent for the week.
Anxiety over the resumption of initial public offerings curbed optimism from fresh central bank moves to lower borrowing costs. Some analysts expect the 28 IPOs to hit the market by end-year will freeze about 3.5 trillion yuan ($548.5 billion) of capital.
The People's Bank of China said late on Thursday that it would cut lending rates for loans made under the standing lending facility (SLF), a policy tool to inject cash into the banking system, in its latest effort to aid a struggling economy.
In addition to cutting SLF rates, the central bank also provided a new liquidity injection of 10 billion yuan via open market operations on Thursday, the first positive injection since Oct. 8.
The easing helped push up prices of banking and real estate stocks on Friday, but many other sectors, including energy and healthcare retreated.
But defence stocks had a strong performance. The execution of a Chinese hostage by ISIS and international developments supporting the case for further military expenditure underpinned the sector.
In Hong Kong, the Hang Seng index dipped 0.2 percent to 22,456.97 points, while the Hong Kong China Enterprises Index also lost 0.2 percent, to 10,170.55.
($1 = 6.3806 Chinese yuan)
Reporting by Samuel Shen and Pete Sweeney; Editing by Jacqueline Wong