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May 27 (Reuters) - Hong Kong stocks jumped nearly 3% on Friday, led by tech shares following forecast-beating results from Alibaba Group and Baidu, while comments by a U.S. official on relations with China were interpreted by some as positive.
** Also lifting the market were expectations that Beijing will implement more measures to revive growth.
** Hong Kong's Hang Seng Index gained 2.9%, while the Hang Seng Tech Index surged 3.8%.
** The United States will not block China from growing its economy, but wants it to adhere to international rules, Secretary of State Antony Blinken said in a speech on U.S. strategy towards China.
"We are not looking for conflict or a new Cold War. To the contrary, we're determined to avoid both," he said.
** Blinken's speech "is generally interpreted to be on the positive side, given extremely low expectations on Sino-U.S. ties," said Yang Hongxun, an analyst at investment consultancy Shandong Shenguang.
** Hopes for improving China-U.S. ties, and better-than-expected earnings of Alibaba and Baidu fuelled buying into Hong Kong-listed tech shares.
** Alibaba, whose quarterly revenue and earnings beat market forecast, shot up 12% in Hong Kong. Baidu shares surged 14%, after posting better-than-expected first-quarter revenue.
** Investors expect more market-friendly policies ahead from Beijing, after Premier Li Keqiang vowed to ensure reasonable growth in the second quarter.
** Stocks rose across the board, with commodities, energy and consumer shares among the biggest gainers.
** However, some investors remain cautious. "What is required is not a loosening around the edges of these broad policy priorities, but wholesale policy U-turns," wrote Alex Wolf, Head of Investment Strategy, Asia at JPMorgan Private Bank. (Reporting by the Shanghai Newsroom; editing by David Evans)