SHANGHAI, Aug 4 (Reuters) - China and Hong Kong stocks rose on Friday, as market sentiment improved on hopes of more policy easing from a press conference co-hosted by China's central bank.

** China's blue-chip CSI300 Index climbed 0.6% by the lunch break, while the Shanghai Composite Index gained 0.5%. The Hong Kong benchmark Hang Seng Index was up 1.0%.

** Stocks in China and Hong Kong opened higher into a press conference titled "Driving high-quality economic growth with macro policies", co-hosted by the People's Bank of China (PBOC), as the market hoped for more signs of policy easing.

** Mainland property developers listed in Hong Kong rose as much as 5.0%.

** Reserve requirement ratio (RRR) cuts, open market operation and all structural monetary policy tools need to be used flexibly to ensure reasonably ample liquidity in the banking system, an official with China's central bank said at the press conference.

** Meanwhile, China's central bank governor pledged on Thursday to guide more financial resources towards the private economy, suggesting refreshed urgency from Beijing to bolster the confidence among private firms as economic momentum weakens.

** Telecom and securities shares led the gains in China, up 3.3% and 2.3%, respectively.

** China United Network Communications Ltd rose as much as 10%.

** Tech stocks traded in Hong Kong were up 2.0%, as China's American depositary receipt (ADR) shares rallied in New York overnight.

** UBS analysts are seeing Alibaba's new e-commerce strategy "off to a good start" and some potential revenue upside surprise for the month of June. (Reporting by Shanghai Newsroom; Editing by Janane Venkatraman)