By Summer Zhen

HONG KONG, May 20 (Reuters) - China and Hong Kong stocks rose broadly on Tuesday, led by healthcare and consumer shares, as market sentiment improved after China cut key lending rates for the first time since October.

** By midday, China's blue-chip CSI300 Index .CSI300 was up 0.6%, while the Shanghai Composite Index .SSEC gained 0.4%.

** Hong Kong's benchmark Hang Seng .HSI jumped 1.3%, hovering near a two-month high.

** China cut benchmark lending rates for the first time in seven months on Tuesday, while major state banks lowered deposit rates as authorities work to ease monetary policy to help buffer the economy from the impact of the Sino-U.S. trade war.

** With the recent substantial progress in the U.S.-China tariff negotiations and the announcement of rate cuts, market uncertainty has eased and risk appetite has rebounded, TF Securities said in a note.

** Healthcare stocks listed in Hong Kong .HSHCI and mainland A-shares .CSI300HC advanced 3.8% and 1.6%, respectively.

** Shares of biotech firm 3SBIO 1530.HK surged 36% by the lunch break, after the firm signed a licensing deal with U.S. drugmaker Pfizer.

** The consumer sector was another outperformer, with Hang Seng SCHK Consumer Discretionary Index .HSSCCD jumping 1.4%.

** Meanwhile, shares of Chinese electric vehicle battery giant CATL 3750.HK opened 12.5% higher than the subscription price on Tuesday after the company raised $4.6 billion in its Hong Kong listing, the largest in the world this year.

** Hong Kong shares of CATL jumped 17% by midday.

** The smaller Shenzhen index .SZSC was up 0.86%, the start-up board ChiNext Composite index .CNT was higher by 1.05% and Shanghai's tech-focused STAR50 index .STAR50 was up 0.51%​.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was 0.30% higher, while Japan's Nikkei index .N225 was up 0.22%.

(Reporting by Summer Zhen; Editing by Sonia Cheema)

((summer.zhen@thomsonreuters.com; 852-3462-7739;))