China stocks rise in thin trading; Hong Kong down on U.S. rate hike worry
* CSI300: +0.2 pct; SSEC: +0.4 pct; HSI: -0.5 pct;
* Markets factor in possibility of a U.S. rate hike in June
* China tells state-owned enterprises to step up restructuring
SHANGHAI, May 19 (Reuters) - China stocks rebounded on Thursday but Hong Kong shares followed other Asian markets lower amid revived concerns of another U.S. interest rate hike as early as June.
China's blue-chip CSI300 index rose 0.2 percent, to 3,075.50 points by lunch break, while the Shanghai Composite Index gained 0.4 percent, to 2,819.42 points.
In Hong Kong, the Hang Seng index dropped 0.5 percent, while the Hong Kong China Enterprises Index lost 0.4 percent.
The markets scrambled to factor in the possibility of another U.S. rate hike soon, after minutes from the last Federal Reserve meeting showed central bank officials felt the U.S. economy could be ready for that in June.
The prospects of further U.S. monetary tightening "would certainly exert pressure on the stock market," said Alex Fan, strategist at GF Holdings (Hong Kong) Corp.
Other uncertainties hurting China and Hong Kong markets include Britain's "Brexit" campaign to leave the EU, and the progress of China's economic restructuring, he added. Continuación...