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Hong Kong shares edge up on consumer and material boost; post third consecutive weekly gain

* HK->Shanghai Connect daily quota used 4%, Shanghai->HK daily quota used 5.7%

* HSI +0.3%, HSCE -0.1%, CSI300 +0.3%

* FTSE China A50 -0.1%

BEIJING/SHANGHAI, Nov 20 (Reuters) - Hong Kong shares edged up on Friday to post their third consecutive weekly advance, led by consumer and material stocks, tracking mainland gains on upbeat data and policy support during the week. ** At the close of trade, the Hang Seng index was up 94.57 points or 0.36% at 26,451.54. The Hang Seng China Enterprises index fell 0.02% to 10,553.35. ** The sub-index of the Hang Seng tracking material stocks gained 2.74%, while the consumer staple sub-index ended 1.69% higher on Friday. ** The top gainer on the Hang Seng was WuXi Biologics Inc , which gained 5.57%, while the biggest loser was China Overseas Land & Investment Ltd, which fell 3.79% ** For the week, HSI rose 1.13%, while HSCE up 0.1%, as investors cheered news of Beijing’s pledge to boost domestic consumption and promote an innovation-driven growth model to salvage a pandemic-ravaged economy. ** China will promote economic growth to a “reasonable” range while pursuing higher quality development, Premier Li Keqiang was quoted as saying on Tuesday night by state radio. ** Li also pledged expanded consumption of cars and consumption in rural areas, according to a report by state broadcaster CCTV, which boost recovery hopes. ** China’s main Shanghai Composite index closed up 0.44% at 3,377.73 points, while the blue-chip CSI300 index ended up 0.31%. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.52%, while Japan’s Nikkei index closed down 0.42%.

Reporting by Cheng Leng in Beijing and Andrew Galbraith in Shanghai;Editing by Elaine Hardcastle

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