Hong Kong stocks rebound on trade data, subsiding trader war fears

* Hang Seng index ends up 1.5 pct

* China Enterprises index HSCE rises 1.3 percent

* HSI financial sector sub-index up 1.3 pct; property sector up 1.7 pct

SHANGHAI, March 8 (Reuters) - Hong Kong stocks rallied on Thursday to recoup losses in the previous session, buoyed by China's robust trade data, and as trade war fears mitigated after news U.S. President Donald Trump's proposed tariffs may exclude certain key partners.

** At close of trade, the Hang Seng index was up 1.5 percent at 30,654.52. The Hang Seng China Enterprises index rose 1.3 percent to 12,334.83.

** The impending hefty U.S. tariffs on steel and aluminium imports could exclude Canada, Mexico and a clutch of other countries, said White House spokeswoman Sarah Sanders at a media briefing.

** "Market participants expect Trump's tariffs to be not that stringent after news of potential tariff exemption for Canada and Mexico," said Steven Leung, Hong Kong-based analyst with UOB Kay Hian.

** There is a lack of a clear direction in the H-share market for now, and the increased volatility could also be due to more participation of short-term money, Leung added.

** Sentiment was also lifted after data showed China's exports unexpectedly surged the fastest in three years in February, suggesting its economic growth remains resilient even as trade relations with the United States rapidly deteriorate.

** The top gainer on Hang Seng was China Resources Power Holdings Co Ltd, up 6.21 percent, while the biggest loser was BOC Hong Kong Holdings Ltd with a 0.13 percent fall.

** As of the previous trading session, the Hang Seng index was up 0.93 percent this year, while China's H-share index was up 4.0 percent. As of previous close, the Hang Seng has declined 2.1 percent this month.

** The top gainers among H-shares were Huaneng Power International Inc up 6.92 percent, followed by CSPC Pharmaceutical Group Ltd gaining 5.86 percent and Dongfeng Motor Group Co Ltd up by 4.74 percent.

** The three biggest H-shares percentage decliners were China Communications Construction Co Ltd which was down 0.82 percent, Air China Ltd which fell 0.5 percent and Agricultural Bank of China Ltd down by 0.5 percent.

** About 1.58 billion Hang Seng index shares were traded, roughly 56.5 percent of the market's 30-day moving average of 2.79 billion shares a day. The volume traded in the previous trading session was 2.20 billion.

** At close, China's A-shares were trading at a premium of 28.55 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Gopakumar Warrier)