* SSEC -0.2 pct, CSI300 -0.2 pct, HSI +0.1 pct
* Tencent keeps climbing, up 2.1 pct in morning
* Trade data causes some profit-taking
SHANGHAI, Aug 8 (Reuters) - China stocks slipped on Tuesday morning as momentum flagged and the government announced July trade statistics that were weaker than expected, although Hong Kong shares edged up.
Oil and gas stocks, commodities and financials led the modest fall in mainland shares, pulling the CSI300 index down 0.2 percent, to 3,721.11 points at the end of the morning session.
The Shanghai Composite Index was also off 0.2 percent, to 3,273.05 points, by the midday break.
Hong Kong’s Hang Seng index, meanwhile, added 0.1 percent, to 27,722.70 points.
The Hong Kong China Enterprises Index lost 0.2 percent, to 11,029.16.
Investors were positioning for corporate results due in the next few weeks, with an eye on shares like Tencent Holdings Ltd as well as Chinese financial stocks listed in Hong Kong , said Linus Yip, chief strategist at First Shanghai Securities in Hong Kong.
“The market is waiting for some good results to have further action,” he said.
Tencent, which gained on Friday and Monday, continued its climb, ending the Tuesday morning session up 2.12 percent at HK$327.40.
Geely Automobile Holdings Ltd led the market, rising 4.96 percent after it reported an 88 percent increase in sales volume in July.
China’s exports and imports grew more slowly than expected in July, government statistics showed on Tuesday, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back their massive stimulus programmes.
The data’s impact on Chinese and Hong Kong stocks was limited.
“It made the market have some profit-taking, but overall it’s not so damaging,” said Yip. “The overall China macroeconomy is still doing well.”
Li Zheming of Datong Securities said the impact on the mainland was also limited.
“Unless something unexpected happens it’s possible that when this adjustment period is over the market will return to an upward trajectory,” he said.
The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 126.27.
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.
Reporting by John Ruwitch; Editing by Richard Borsuk