* HK->Shanghai Connect daily quota used 17.1%, Shanghai->HK daily quota used -1.3% * HSI -0.2%, HSCE -0.1%, CSI300 +0.3% * FTSE China A50 +0.2% May 27 (Reuters) - Hong Kong stocks closed lower on Thursday, pressured by losses in the financial and property sector, as investors booked profits following a recent run of gains. ** At the close of trade, the Hang Seng index was down 52.81 points, or 0.18%, at 29,113.20. The Hang Seng China Enterprises index inched down 0.07% to 10,848.35. ** The IT sector dipped 0.66%, financial stocks ended 0.51% lower and property firms lost 0.13%. ** The retreat came after a two-day rally that saw the Hang Seng index climb nearly 3% amid fading worries over inflation at home and abroad. ** Earnings at China’s industrial firms grew at a slower pace in April, data showed, with high commodity prices and weaker performance in the consumer goods sector limiting overall profitability from manufacturing. ** Investor focus was also on developments surrounding Sino-U.S. relations. ** China and the United States should work together to push for the implementation of a Phase 1 trade deal, commerce ministry spokesman Gao Feng told a news conference. ** The Hang Seng tech index, sensitive to Sino-U.S. relations, added 0.6%. ** Shares of Chinese smartphone maker Xiaomi Corp closed up 3.2%, after reporting forecast-beating first-quarter revenue growth of 55% on Wednesday. ** China’s main Shanghai Composite index closed up 0.43% at 3,608.85 points, while the blue-chip CSI300 index ended up 0.33%. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.01%, while Japan’s Nikkei index closed down 0.33%. ** The yuan was quoted at 6.3767 per U.S. dollar at 0821 GMT, 0.23% firmer than the previous close of 6.3915. (Reporting by the Shanghai Newsroom; Editing by Devika Syamnath) Our Standards: The Thomson Reuters Trust Principles.