SHANGHAI, Dec 14 (Reuters) - China and Hong Kong stocks fell modestly on Thursday morning, as investors shrugged off the Federal Reserves' widely expected U.S. rate hike as well as China's nudging-up of some rates and tepid November economic data.
** The Fed raised rates for the third time this year on Wednesday while sticking to its projection for three rate increases next year.
** Hong Kong's central bank raised base rate by 25 basis points, while China's central bank nudged money market rates upward by 5 basis points. Hong Kong tracks U.S. rate moves because its currency is pegged to the U.S. dollar.
** At 04:05 GMT, the Shanghai Composite index was down 6.73 points or 0.2 percent at 3,296.31.
** China's blue-chip CSI300 index was down 0.35 percent , with its financial sector sub-index lower by 0.54 percent , the consumer staples sector up 0.33 percent, the real estate index up 0.28 percent and healthcare sub-index up 0.09 percent.
** Chinese H-shares listed in Hong Kong rose 0.24 percent at 11,547.72 while the Hang Seng Index was down 0.02 percent at 29,216.12.
** The smaller Shenzhen index was down 0.13 percent and the start-up board ChiNext Composite index was weaker by 0.54 percent.
** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.55 percent while Japan's Nikkei index was down 0.19 percent .
** The yuan was quoted at 6.609 per U.S. dollar, 0.16 percent firmer than the previous close of 6.6195.
** The largest percentage gainers in the main Shanghai Composite index were Henan Ancai Hi-tech Co Ltd up 10.06 percent, followed by Wenyi Suntech Co Ltd gaining 10.02 percent and Wangfujing Group Co Ltd up by 5.44 percent.
** The largest percentage losses in the Shanghai index were BTG Hotels Group Co Ltd down 3.86 percent, followed by Grinm Advanced Materials Co Ltd losing 3.6 percent and Universal Scientific Industrial Shanghai Co Ltd down by 3.25 percent.
** So far this year, the Shanghai stock index is up 6.42 percent, while China's H-share index is up 22.6 percent. Shanghai stocks have declined 0.43 percent this month.
** The top gainers among H-shares were Great Wall Motor Co Ltd up 3.98 percent, followed by Air China Ltd gaining 3.44 percent and Guangzhou Automobile Group Co Ltd up by 2.93 percent.
** The three biggest H-shares percentage decliners were Postal Savings Bank of China Co Ltd which has fallen 2.06 percent, PICC Property and Casualty Co Ltd which has lost 2.0 percent and CITIC Securities Co Ltd down by 1.1 percent.
** About 6.68 billion shares have traded so far on the Shanghai exchange, roughly 39.4 percent of the market's 30-day moving average of 16.94 billion shares a day. The volume traded was 11.20 billion as of the last full trading day.
** As of 04:05 GMT, China's A-shares were trading at a premium of 29.03 percent over the Hong Kong-listed H-shares.
** The Shanghai stock index is below its 50-day moving average and above its 200-day moving average.
** The price-to-earnings ratio of the Shanghai index was 14.81 as of the last full trading day while the dividend yield was 2 percent.
** So far this week, the market capitalisation of the Shanghai stock index has risen by 0.46 percent to 28.77 trillion yuan.
** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.2 percent while the IT sector rose 0.5 percent. The top gainer on Hang Seng was Country Garden Holdings Company Ltd up 3.29 percent, while the biggest loser was WH Group Ltd which was down 1.94 percent.
(Reporting by Shanghai Newsroom; Editing by Richard Borsuk)