SHANGHAI, Aug 1 (Reuters) - China stocks wobbled on Tuesday after the markets rebounded sharply in recent sessions, with some investors locking in profits as they remain sceptical on the country's policy measures to aid a weak post-COVID recovery.
** China's blue-chip CSI 300 Index slipped 0.1%, while the Shanghai Composite Index edged 0.1% higher, by the midday recess.
** The Hang Seng Index and the Hang Seng China Enterprises Index were roughly flat.
** China's State Council on Monday announced measures to restore and expand consumption in the automobile, real estate and services sector, aiming to give full play to the "fundamental role" of consumption in economic development.
** That comes after China's top policymakers last week pledged at a Politburo meeting to step up support for the economy and strengthen counter-cyclical adjustments in the second half of this year.
** Authorities, however, have not released much detail on their plans, leaving investors wanting.
** "Most investors I spoke to were still sceptical on the potential measures that the government would roll out," UBS analysts said in a note.
** Some foreign investors say policymakers' words will have to be matched by substantive action to clean up an ailing property sector before confidence recovers.
** China's factory activity swung to contraction in July, a private sector survey showed on Tuesday, with supply, demand and export orders all deteriorating as firms blamed sluggish market conditions at home and abroad.
** In mainland market, communications equipment shares rose 2.2%, while tourism and new energy stocks dropped 0.8% each.
** In Hong Kong market, tech giants added 0.6% while mainland property developers dropped 1.2%.
(Reporting by Shanghai Newsroom; Editing by Sherry Jacob-Phillips)
