* SSEC +1.2%, CSI300 +1.7%, HSI +1.0%

* HK->Shanghai Connect daily quota used 6.6%, Shanghai->HK daily quota used 3%

* FTSE China A50 +1.8%


SHANGHAI, May 14 (Reuters) - China stocks climbed on Friday as financial and healthcare firms gained, leading a rally in Asian markets as U.S. Fed officials allayed inflation fears.

** The CSI300 index rose 1.7% to 5,079.30 points at the end of the morning session, while the Shanghai Composite Index advanced 1.2% to 3,471.17 points.

** Leading the pack, the CSI300 financials index and the CSI300 healthcare index rallied 2% and 2.8%, respectively.

** Asian shares gained on Friday, as U.S. Fed officials calmed inflation fears.

** "Investors hunt for bargains as the blue-chip CSI300 index approaches a key support level since mid-March, while gains in overseas markets also provide some solace," said Zheng Zichun, an analyst with AVIC Securities.

** Though traders and analysts remain cautious for the time being, as they believed inflation fears could lead to tight liquidity conditions.


** "There are also no signs of monetary loosening, as Beijing continues to maintain a cautious policy stance," Zheng said.

** "Our risk control measures are more stringent this year, as we see no easy opportunities out there like those last year when liquidity was ample amid the coronavirus outbreak," said Luo Yuxi, a Hubei-based fund manager at Langxin Investment.

** Investors are also focused on the development of Sino-U.S. relations.

** The United States needs new trade law tools to head off anti-competitive threats from China against key American high-technology industries, rather than reacting once harm is done, U.S. Trade Representative Katherine Tai said on Thursday.

** In Hong Kong, the Hang Seng index rose 1.0% to 27,981.51 points, while the Hong Kong China Enterprises Index was up 0.4% at 10,382.09.

** The Hang Seng tech index slipped 0.7%, as heavyweight Alibaba Group Holding Ltd fell after posting its first operating loss as a public company. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Vinay Dwivedi)