Wires

Hong Kong stocks end at 5-month high on upbeat China data

* HK->Shanghai Connect daily quota used 7.7%, Shanghai->HK daily quota used 4.8%

* HSI +1.3%, HSCE +1.4%, CSI300 -0.1%

* FTSE China A50 +0.2%

SHANGHAI, Dec 27 (Reuters) - Hong Kong stocks closed at a five-month peak on Friday as investors cheered a rebound in China's industrial profits for November, while hopes that Beijing and Washington will soon sign a trade deal aided sentiment.

** The benchmark Hang Seng index ended up 1.3% at 28,225.42, the highest closing level since July 26, while the China Enterprises Index gained 1.4% to 11,194.55.

** For the week, HSI gained 1.3%, while HSCE added 1.5%. Both indexes recorded a fourth straight weekly gain.

** Profits at industrial firms in November grew at the fastest pace in eight months, breaking a three-month declining streak, as production and sales quickened, but broad weakness in domestic demand remains a risk for earnings next year.

** China said it was in close contact with the United States on signing a Phase 1 trade deal, and that both sides were still going through necessary procedures before the signing.

** Another factor driving the markets was a Reuters report that said China had called on its biggest state firms to take a more active role in Hong Kong, including stepping up investment and asserting more control of companies in the financial hub.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.76%, while Japan's Nikkei index closed down 0.36%.

** The yuan was quoted at 6.999 per U.S. dollar at 0821 GMT, 0.01% weaker than the previous close of 6.998.

** At close, China's A-shares were trading at a premium of 24.98% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; editing by Uttaresh.V)