Updates to market close

By Jiaxing Li

HONG KONG, March 25 (Reuters) - China and Hong Kong stocks climbed on Wednesday, joining a broader regional recovery, as investors welcomed signs of potential progress in Iran ceasefire talks.

** The Shanghai Composite Index .SSEC jumped 1.3% to reclaim the key 3,900 level, while the blue-chip CSI 300 Index .CSI300 gained 1.4%.

** In Hong Kong, the benchmark Hang Seng Index .HSI climbed 1.1%, and the Hang Seng Tech Index .HSTECH jumped 1.9%.

** Sentiment improved after U.S. President Donald Trump said Washington was making progress in negotiating an end to the war with Iran, although the situation remains fluid as Israel's strike on Tehran on Wednesday added fresh uncertainty.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 1.7%.

** "I think everyone wants to believe the war could end relatively soon - though it's unclear if that is true, people are choosing to believe it for now," said Jasmine Duan, senior investment strategist at RBC Wealth Management. "At least there is a short-term risk relief."

** Chinese stocks still offer certain allocation value from a longer-term perspective, with many targets from tech darlings to more traditional resource stocks to choose from, she added.

** Chinese leaders pledged that the country remains a predictable anchor at a time of geopolitical flux and global uncertainty, as they addressed global corporate executives attending the country's flagship annual business conference this week.

** Leading the gains onshore, the CSI SSH Gold Equity Index .CSI931238 surged 3.1%, extending its recovery after a sharp selloff earlier in the week.

** Technology shares also rebounded as investor risk appetite improved. The CSI Semiconductor Index .CSI931865 climbed 2.6%, while the CSI AI Index .CSI930713 advanced 2.7%.

** Oil-related sectors, however, plunged after Brent crude futures LCOc1 fell about 6% below $100 a barrel. The CSI 300 Energy Index .CSI000908 slid 2.6%.

** Elsewhere, shares of Chinese food delivery giants surged after regulator and state media called an end to a bruising price war.

** Meituan 3690.HK surged as much as 15.8%. Alibaba 9988.HK and JD.com 9618.HK both closed up more than 4%.

(Reporting by Jiaxing Li in Hong Kong; Editing by Sherry Jacob-Phillips and Subhranshu Sahu)

((jiaxing.li@thomsonreuters.com))