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* SSEC -0.6%, CSI300 0.0%, HSI -0.8%
* HK->Shanghai Connect daily quota used -0.5%
* Shanghai->HK daily quota used 1.7%
* FTSE China A50 +0.4%
SHANGHAI, July 22 (Reuters) - China's benchmark stock index fell on Monday and blue-chips traded sideways as enthusiasm for the country's new Nasdaq-style STAR Market drew investor attention away from the main boards.
** The CSI300 index was unchanged at 3,807.03 at the end of the morning session, while the Shanghai Composite Index lost 0.6% to 2,907.44.
** All 25 listed firms on China's new STAR Market more than doubled their share prices from already frothy IPO valuations as trading kicked off on Monday, in a morning session marked by high volatility.
** Stocks were also weighed down as investors reduced expectations of an aggressive interest rate cut by the U.S. Federal Reserve.
** Expectations for a 50-bp cut were scaled back further after the Wall Street Journal reported the Fed was likely to cut rates by 25 bps when it meets later this month, and may make further cuts in the future given global growth and trade uncertainties.
** Eyes were also on the development of Sino-U.S. trade talks.
** U.S. President Donald Trump said on Friday U.S. Treasury Secretary Steve Mnuchin had a very good talk with his Chinese counterpart, amid signals from China that officials could soon meet face-to-face in their bid to end a yearlong trade war.
** Some Chinese companies are seeking new purchases of U.S. agricultural products, China's official Xinhua news agency said on Sunday, citing authorities, as Beijing and Washington look for ways to end a protracted trade war.
** In Hong Kong, the Hang Seng index dropped 0.8% to 28,542.59, while the Hong Kong China Enterprises Index lost 0.6% to 10,841.29.
** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.38% while Japan's Nikkei index was down 0.35%.
** The yuan was quoted at 6.8788 per U.S. dollar, 0.03% firmer than the previous close of 6.881.
** The largest percentage gainers in the main Shanghai Composite index were Hebei Jinniu Chemical Industry Co Ltd , up 10%, followed by Will Semiconductor Co Ltd Shanghai, gaining 8.51% and Toly Bread Co Ltd , up by 7.12%.
** The top percentage losers in the Shanghai index were Suzhou Secote Precision Electronic Co Ltd, down 9.99%, followed by Guangzhou Yuetai Group Co Ltd, losing 9.97% and Wuhan DDMC Culture Co Ltd, down by 9.62%.
** So far this year, the Shanghai stock index is up 17.25%, while China's H-share index is up 7.7%. Shanghai stocks have declined 1.84% this month.
** The top gainers among H-shares were ANTA Sports Products Ltd, up 3.29%, followed by Shenzhou International Group Holdings Ltd, gaining 1.27% and China Resources Beer Holdings Co Ltd, up by 1.07%.
** The three biggest H-shares percentage decliners were Postal Savings Bank of China Co Ltd, which has fallen 2.13%, CITIC Securities Co Ltd, which has lost 2.0% and China Tower Corp Ltd, down by 1.9%.
** About 11.80 billion shares were traded so far on the Shanghai exchange, roughly 61.4% of the market's 30-day moving average of 19.21 billion shares a day. The volume traded was 14.95 billion as of the last full trading day.
** As of 04:30 GMT, China's A-shares were trading at a premium of 27.78% over the Hong Kong-listed H-shares.
(Reporting by Luoyan Liu and John Ruwitch; editing by Gopakumar Warrier)