HONG KONG, April 11 (Reuters) - Hong Kong stocks rose 0.50percent on Wednesday tracking strong U.S. markets and led byChinese insurance stocks such as China Life (2628.HK: Quote, Profile , Research) asinvestors looked for laggards on China's surging bourses.

The benchmark Hang Seng Index rose 101.56 points toclose at 20,449.43 on Wednesday. The China Enterprises index ofmainland H shares climbed 1.37 percent to 10,149.89.

"All three Chinese insurance stocks jumped as investorslooked for market laggards following the recent strength ofChinese stocks," said Francis Lun, general manager from FulbrightSecurities. "It was now H shares which leant strength to theblue-chip index for it to head north."

Shares of China Life rose 4.09 percent, while Ping An(2318.HK: Quote, Profile , Research) gained 1.51 percent and PICC (2328.HK: Quote, Profile , Research) surged 5.15percent.

The combined market caps of the two mainland boursessurpassed that of the Hong Kong exchange for the first time onTuesday. The Hong Kong exchange has a market cap of HK$13.97trillion (US$1.78 trillion), while the Shanghai and Shenzhenbourses have a combined market cap of 13.95 trillion yuan (US$1.8trillion).

Property stocks eased as investors locked in profits aftertheir recent run up, with Cheung Kong (0001.HK: Quote, Profile , Research) easing 1.15percent.

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