Hong Kong shares track Asian markets higher

* HK->Shanghai Connect daily quota used 10.7%, Shanghai->HK daily quota used 4.3%

* HSI +0.8%, HSCE +0.7%, CSI300 +1.0%

* FTSE China A50 +1.2%

March 30 (Reuters) - Hong Kong stocks closed higher on Tuesday, in line with other Asian markets, as investors remained focused on the global vaccination program and shook off worries about a hedge fund default that hit international banking stocks overnight.

** At the close of trade, the Hang Seng index was up 239.20 points or 0.84% at 28,577.50. The Hang Seng China Enterprises index rose 0.71% to 11,020.87.

** The sub-index of the Hang Seng tracking energy shares ended flat, while the IT sector rose 1.59%, the financial sector ended 0.21% lower and the property sector rose 1.78%.

** The top gainer on the Hang Seng was Shenzhou International Group Holdings Ltd, which gained 9.52%, while the biggest loser was China Overseas Land & Investment Ltd , which fell 4.36%.

** The Hang Seng index could remain rangebound in the short term, given the uncertainties around the Sino-U.S. tensions, inflation and overseas markets, Guodu Hong Kong noted in a report.

** China finalised a sweeping overhaul of Hong Kong’s electoral system on Tuesday, Xinhua news agency reported, drastically curbing democratic representation in the city as authorities seek to ensure “patriots” rule the global financial hub.

** The measures are part of Beijing’s efforts to consolidate its increasingly authoritarian grip over its freest city following the imposition of a national security law in June, which critics see as a tool to crush dissent.

** China’s main Shanghai Composite index closed up 0.62% at 3,456.68, while the blue-chip CSI300 index ended up 0.95%.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.41%, while Japan’s Nikkei index closed up 0.16%.

** The yuan was quoted at 6.5683 per U.S. dollar at 08:22 GMT, 0.01% firmer than the previous close of 6.569. (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)