* SSEC -0.1 pct, CSI300 0.8 pct, HSI 0.7 pct
* China’s industrial profit pick up in March with a 13.9 pct rise
* Strong growth gives U.S. leverage in China trade talks - White House adviser
SHANGHAI, April 29 (Reuters) - China’s blue-chip stocks on Monday rebounded from steep losses in the previous week, as upbeat industrial profit data reflected signs of recovery in the world’s second-largest economy.
** The CSI300 index rose 0.8 percent to 3,919.52 points at the end of the morning session, while the Shanghai Composite Index dipped 0.1 percent to 3,083.08 points.
** Both indexes on Friday posted their worst weekly drop in 28 on policy support worries.
** Profit at China’s industrial firms grew in March, rebounding from four months of contraction, adding to optimism the world’s second-largest economy may be starting to stabilise.
** That the PBOC could temper the pace of its policy easing amid dovish stance of other global central banks, means it does not resort to flood-like stimulus and China’s economic performance is relatively better, Haitong Securities said in report.
** From a medium- to long-term perspective, there are no signs of a bubble in the overall valuations of the A-shares market, and extensive medium- and long-term money will continue to flow into the A-shares market as China’s economy gradually bottoms out, Wanlian Securities wrote in note.
** It is hard for China’s monetary policy to take a sharp turn, as the downward pressure remains for the country’s economic growth, the brokerage added.
** All eyes were on the development of the Sino-U.S. trade negotiations.
** Strong U.S. economic growth and modest inflation are giving Washington leverage over Beijing in trade talks, the White House’s top economic adviser said on Friday as U.S. and Chinese negotiators prepared for a new round of meetings next week.
** U.S. President Donald Trump on Friday repeated that China trade talks were “going very well”.
** In Hong Kong, the Hang Seng index added 0.7 percent to 29,819.83 points, while the Hong Kong China Enterprises Index gained 0.8 percent to 11,601.10 points.
** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.37 percent.
** The yuan was quoted at 6.7299 per U.S. dollar, percent firmer than the previous close of 6.73.
** The largest percentage gainers in the main Shanghai Composite index were Guangxi Wuzhou Communications Co Ltd , up 10.1 percent, followed by Jiangsu Sainty Corp Ltd, gaining 10.06 percent and Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd, up by 10 percent.
** The largest percentage losses in the Shanghai index were Star Lake Bioscience Co Inc Zhaoqing Guangdong, down 10.07 percent, followed by Zhangjiagang Freetrade Science & Technology Group Co Ltd, losing 10.06 percent and Greattown Holdings Ltd, down by 10.03 percent.
** So far this year, the Shanghai stock index is up 23.76 percent, while China’s H-share index climbed 13.7 percent. Shanghai stocks declined 0.14 percent so far this month.
** As of 0416 GMT, China’s A-shares were trading at a premium of 25.09 percent over the Hong Kong-listed H-shares.
Reporting by Luoyan Liu and John Ruwitch, Editing by Sherry Jacob-Phillips