* SSEC -0.3%, CSI300 -0.3%, HSI -0.6%
* HK->Shanghai Connect daily quota used 5.4%, Shanghai->HK daily quota used 2.4%
* FTSE China A50 -0.4%
SHANGHAI, Dec 8 (Reuters) - China and Hong Kong shares extended declines on Tuesday, dragged down by financial and transport firms, as Sino-U.S. tensions continued to weigh on the market.
** The CSI300 index fell 0.3% to 5,006.50 by the end of the morning session, while the Shanghai Composite Index lost 0.3% to 3,407.99.
** Among sectors, the CSI300 financials index and transport index shed 0.7% and 0.9%.
** In Hong Kong, the Hang Seng index dropped 0.6% to 26,344.96, while the Hong Kong China Enterprises Index lost 0.4% to 10,429.52.
** The Hang Seng financials index dropped 1.9%, following a 1.7% loss on Monday.
** The United States on Monday imposed financial sanctions and a travel ban on 14 Chinese officials over their alleged role in Beijing's disqualification last month of elected opposition legislators in Hong Kong.
** Chinese Foreign Minister Wang Yi assured U.S. executives during a videoconference on Sunday that Beijing remained committed to the Phase 1 trade deal with the United States, the head of the U.S.-China Business Council said.
** Some market participants expected limited impact from Sino-U.S. tensions on the A-share market.
** "The impact from the Sino-U.S. relations (on the market) could decrease as the post-Trump era nears," said Hu Yunlong, chief investment officer at Beijing Kaixing Asset Management Co.
** Hu said the recent retreat was mainly due to a "year-end effect", where investors turn more cautious and book profits, while there are still worries over the coronavirus outbreak abroad.
** The market could continue to be rangebound as the year-end approaches when the liquidity conditions become relatively tight, Wanlian Securities said in a note.
** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.10% while Japan's Nikkei index was down 0.22%. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Rashmi Aich)
