SHANGHAI, Jan 4 (Reuters) - China and Hong Kong stocks fell on Tuesday morning, dragged down by technology shares, as Beijing"s new cybersecurity rules damp sentiment, despite a rebound in property plays. ** China"s blue-chip CSI300 index (.CSI300) fell 0.8% by the lunch break, while the Shanghai Composite Index (.SSEC) lost 0.4%. ** The Hang Seng index (.HSI) dropped 0.3%, and the Hong Kong China Enterprises Index (.HSCE) lost 0.5%. ** China"s cyberspace regulator said it would implement new rules from Feb. 15 that require platform companies with data for more than 1 million users to undergo a security review before listing their shares overseas. read more ** The Hang Seng Tech Index (.HSTECH) fell 1.4% at the end of the morning session, erasing early gains, as China"s continued clampdowns on the tech sector sour market mood. ** Tech shares also fell sharply in China. The Nasdaq-style STAR Market (.STAR50) lost 2.2%, while the start-up market ChiNext (.CHINEXTC) dropped 1.3%. ** But property shares in China and Hong Kong rebounded sharply, as the sector witnesses elevated volatility on debt repayment worries. ** The Hang Seng Mainland Properties Index (.HSMPI) bounced 4.4% in morning trade, after a 2.8% decline on Monday. ** China"s CSI300 Real Estate Index (.CSI000952) rose 2%. ** Cash-strapped property developer China Evergrande Group (3333.HK) said its contract sales dropped nearly 40% last year, and it will actively maintain communication with creditors. Its Hong Kong-listed shares, which were suspended on Monday, will resume trading on Tuesday afternoon. ** Chinese telecommunication stocks, including China Telecom , China Unicom (0762.HK) and China Mobile (0941.HK), rose, ahead of China Mobile"s Shanghai listing on Wednesday. read more ** China Mobile sold 845.7 million shares at 57.58 yuan ($9.06) each in Shanghai, representing a 50% premium to its Hong Kong share price. read more