* SSEC -0.2 pct, CSI300 +0.1 pct, HSI +0.4 pct
* China May data expected to show stable economic growth
* Evergrande shares hit record high after bond redemption plan
SHANGHAI, June 6 (Reuters) - China stocks were flat in subdued trade on Tuesday morning, as investors pondered the impact of new regulations on initial public offerings and awaited a flurry of Chinese economic data.
The CSI300 index rose 0.1 percent, to 3,471.28 points at the end of the morning session, while the Shanghai Composite Index lost 0.2 percent, to 3,084.95 points.
China's economy is likely to have remained on a stable footing in May, buoyed by solid gains in trade and investment as economic ties with the United States take a positive turn and infrastructure spending cushions domestic growth.
A Reuters poll of indicators from trade and industrial output to loans and property investment, is expected to show that economic growth held up nicely into the second quarter, defying worries of a sharp slowdown.
However, sentiment was dampened after state media reported that the securities regulator would maintain a stable and firm policy regarding new listings, raising concerns among investors that the pace of IPOs would not be rolled back as expected.
"Currently, valuations of many listed companies are still quite high, in particular small caps," said Zhang Qi, an analyst with Haitong Securities.
Expectations of more equity supply could weigh on those small-cap stocks, according to many analysts Reuters spoke to.
Sector performance was mixed in the morning. Gains were led by real estate stocks, while losses were seen in energy and utilities-related companies.
In Hong Kong, the broader market rose on strong gains in property developers.
The Hang Seng index added 0.4 percent, to 25,952.99 points.
The Hong Kong China Enterprises Index lost 0.2 percent, to 10,580.31.
Shares of China Evergrande Group, the nation's largest property developer, jumped to a record high after it said it would redeem all of its perpetual bonds by the end of this month, ahead of plan.
An index tracking major developers listed in Hong Kong advanced 1.8 percent to a two-year high.
Reporting by Samuel Shen and John Ruwitch; Editing by Jacqueline Wong