* IT, financial and manufacturing stocks boost indices
* Zhejiang easing measures boost financials
* CSI300 up 4.6 percent for the month
* Hang Seng set for 2.2 percent gain in Feb
SHANGHAI, Feb 27 (Reuters) - China stocks rose on Friday after domestic media reported easing measures for small banks in Zhejiang province, and looked set to post solid gains for the month.
The reports of further reductions in city banks’ reserve requirement ratios (RRR) added to expectations that authorities will soon roll out more nation-wide stimulus measures to support the slowing economy.
The People’s Bank of China made a system-wide cut to bank reserve requirements on Feb. 5, the first time it has done so in over two years, and said it would cut RRR by an additional 50 basis points for qualified urban and rural banks if they applied for it.
Information technology, financial and manufacturing stocks led indices higher.
Rising costs for call options on the Shanghai Composite Index, along with rising prices for CSI300 index futures also suggested that investors expect stocks to keep marching higher in the near term.
The CSI300 index rose 0.7 percent to 3,590.87 points at the end of the morning session, while the Shanghai Composite Index gained 0.6 percent to 3,317.49 points.
China CSI300 stock index futures for March rose 0.9 percent to 3,618, 27.13 points above the current value of the underlying index.
For the month of February, the CSI300 was up 4.6 percent and the Shanghai Composite was up 3.3 percent.
In Hong Kong, the Hang Seng index rose 0.6 percent to 25,041.63 points, taking its monthly gain to 2.5 percent.
The Hong Kong China Enterprises Index was up 0.5 percent at 12,288.80.
Chow Tai Fook Jewellery Group Ltd fell as much as 6.5 percent, heading for its biggest decline in 7 weeks, after reporting weaker same-store sales during the Lunar New Year holidays.
The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 121.80.
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.
Total volume of A shares traded in Shanghai was 16.62 billion shares, while Shenzhen volume was 9.77 billion shares.
Total trading volume of companies included in the HSI index was 0.5 billion shares.
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China trading volumes hit records in 2014 link.reuters.com/vag73w (Reporting by the Shanghai Newsroom; Editing by Kim Coghill)