* HK->Shanghai Connect daily quota used 13.2%, Shanghai->HK daily quota used 6%
* HSI +1.1%, HSCE +0.6%, CSI300 +2.4%
* FTSE China A50 +2.5%
SHANGHAI, May 14 (Reuters) - Hong Kong stocks, which rose on Friday tracking gains in other Asian markets, posted weekly drops on tech sell-off amid worries over China’s anti-monopoly probes.
** The Hang Seng index rose 1.1% to 28,027.57, while the China Enterprises Index advanced 0.6% to 10,404.95 points.
** Asian shares gained ground on Friday, as U.S. Fed officials allayed inflation fears.
** Though for the week, HSI declined 2.1%, while HSCE shed 2.7%.
** The Hang Seng tech index slipped 0.5% on Friday, having lost 4.9% for the week and dropped 31% from a record high hit on Feb. 18, as heavyweights continued to be under pressure on worries over China’s ongoing anti-trust crackdown.
** China’s State Administration for Market Regulation said last Friday it would continue to promote “rectification” of platform companies.
** Shares of food delivery giant Meituan lost 3% on Friday, taking its loss for the week to 13.7%.
** Meituan’s chairman Wang Xing had last week posted an ancient poem on Fanfou, a Twitter-like social media platform, that had triggered traders’ speculation that he was complaining about the ongoing regulatory crackdown.
** Hong Kong shares of China’s top e-commerce platform Alibaba Group Holding Ltd fell as much as 6.1% before ending 4% lower on Friday.
** Alibaba on Thursday posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country’s market regulator, and the outlook was overshadowed by a regulatory crackdown in China.
** Adding to the pressure were tensions between Beijing and Washington.
** The United States needs new trade law tools to head off anti-competitive threats from China against key American high-technology industries, rather than reacting once harm is done, U.S. Trade Representative Katherine Tai said on Thursday. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Vinay Dwivedi)