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Hong Kong shares rise on IT, consumer gains, post weekly fall as Sino-U.S. tensions weigh

* HK->Shanghai Connect daily quota used 0.5%, Shanghai->HK daily quota used 1.9%

* HSI +1.3%, HSCE +0.6%, CSI300 +0.9%

* FTSE China A50 +0.7%

SHANGHAI, Aug 21 (Reuters) - Hong Kong stocks climb on Friday, helped by IT and consumer firms, but posted a marginal weekly drop as uncertainty over Sino-U.S. trade talks weighed on sentiment.

** The Hang Seng index rose 1.3% to 25,117.47, while the China Enterprises Index gained 0.7% to 10,221.90.

** Leading the gains for the day, the Hang Seng IT index and the Hang Seng consumer staples index climbed 1.5% and 2%, respectively.

** Though for the week, HSI shed 0.3%, while HSCE slipped 0.5%.

** Market participants were watching out for developments on trade talks between Washington and Beijing.

** The Trump administration on Thursday declined to acknowledge any plans to meet with China over the Phase 1 trade deal after the commerce ministry in Beijing said bilateral talks would be held “in the coming days” to evaluate the agreement’s progress.

** Chinese purchases of U.S. goods are running well behind the pace needed to meet a first-year increase of $77 billion specified in the deal, according to official data. China, however, has increased the pace of farm product purchases in recent weeks. (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)

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