HONG KONG, June 7 (Reuters) -
China's blue-chip stocks dropped on Wednesday as investor sentiment was hit by worse-than-expected May export data, while Hong Kong tech stocks jumped, encouraged by U.S. Secretary of State Antony Blinken's plan to visit China in the coming weeks.
** China's blue-chip CSI 300 Index fell 0.49%, while the Shanghai Composite Index edged up 0.08%.
** Hong Kong's Hang Seng Index rose 0.80%, and the Hang Seng China Enterprises Index gained 0.95%.
** China saw its May exports slump 7.5% year-on-year, much larger than the forecast 0.4% fall and the biggest decline since January.
** Imports fell by 4.5%, compared with a 7.9% decline in April.
** "Looking forward, exports are likely to shrink further on a high base, the deepening global manufacturing downturn and intensifying trade sanctions from the West" said Nomura analysts in a note.
** "Falling domestic demand will likely continue to limit imports," they said.
** Blinken will travel to China in the next few weeks, an official said on Tuesday.
** The visit is intended by Washington to be a major step toward what President Joe Biden has called a "thaw" in relations between the world's two largest economies.
** "This is a positive sign. The tension between the U.S. and China is likely to be eased," said Dickie Wong, executive director of research at Kingston Securities.
** Tech giants listed in Hong Kong rebounded 2.3% following overnight gains in Chinese American Depositary Receipts.
** Policy stimulus hopes spurred Hong Kong-listed mainland property developers to rise another 0.3%.
** Financial regulatory bodies in many cities have recently conducted research on local credit demand, bad debts and feedback on the real estate market, local media reported.
** Reuters reported a self-regulatory body overseen by the country's central bank has told major state-owned banks to lower dollar deposit interest rates to bolster China's yuan.
** In A-shares, bluechip Contemporary Amperex Technology Co. slumped 5.5% after Morgan Stanley downgraded the Chinese battery giant to underweight, citing fierce price competition and geopolitical headwinds. (Reporting by Summer Zhen; Editing by Sohini Goswami and Nivedita Bhattacharjee)