HONG KONG, March 6 (Reuters) - Chinese and Hong Kong

shares rallied on Thursday, led by consumer and tech stocks, as

investors continued see policy signals from China's annual

parliamentary meeting as positives.

** At the midday break, the Shanghai Composite index

was up 1.05% at 3,377.22 points, and the blue-chip CSI300 index

was up 1.25%.

** Leading gains onshore, the chip sector subindex

surged 4.5% and the consumer staples sector

climbed 1.14%.

** In Hong Kong, the Hang Seng Index was up 2.64% at

24,216.93, and the Hang Seng Tech Index rallied 4.7%,

with market heavyweight Alibaba ( BABA ) surging 7.2% and

Tencent advancing 5.8%.

** Despite the moderate fiscal package announced at China's

rubber-stamp parliament meeting, the NPC's message of focusing

on tech innovation and consumption was especially encouraging

and should help to sustain the market's momentum, Morgan Stanley

strategist Laura Wang said in a note on Thursday.

** "We remain positive on offshore equities and expect the

latest tariff hike to disrupt but not derail the market's

momentum."

** Goldman Sachs raised its target price for emerging market

stocks on Thursday, projecting that the AI-powered rally in

Chinese equities could boost other markets as well.

** Around the region, MSCI's Asia ex-Japan stock index

was firmer by 1.08% while Japan's Nikkei index

was up 0.98%.

** Chinese ADRs rose 6.4% overnight.