China stocks rise, led by consumer shares; Hong Kong down
* CSI300 +1.8 pct; SSEC +1.6 pct; HSI -1.1 pct
* Profits at China-listed companies dipped 0.45 pct in Q1
* April PMI survey casts doubt on China's economic recovery
SHANGHAI, May 3 (Reuters) - China stocks rose more than 1 percent on Tuesday, as investors bet on improvements in corporate fundamentals, although thin trading after the holiday weekend suggests confidence remains fragile.
But Hong Kong shares lost around 1 percent, as Asian stocks erased earlier gains amid worries about the ability of global central banks to boost growth through aggressive policy easing.
China's blue-chip CSI300 index rose 1.8 percent, to 3,213.35 points by the lunch break, while the Shanghai Composite Index gained 1.6 percent, to 2,985.41 points.
In Hong Kong, the Hang Seng index dropped 1.1 percent, while the Hong Kong China Enterprises Index lost 1.4 percent.
Stock markets in China and Hong Kong were closed on Monday.
Chinese investors draw solace from the fact that the first-quarter performance of China-listed companies did not tumble as many had feared, while the economy has shown signs of stabilising. Continuación...