Adds details and updates closing prices

HONG KONG, July 2 (Reuters) - Chinese stocks were flat on Wednesday as investors weighed persistent global trade tensions and refrained from placing massive bets, while Hong Kong shares closed higher after a local holiday.

** At close, the Shanghai Composite index .SSE held its ground at 3,454.79, hovering near a three-month high. China's blue-chip CSI300 index .CSI300 climbed less than 0.1%.

** Defensive sectors helped lift the markets onshore, with the banking sector sub-index .CSI399986 up 0.8% while liquor distiller sector .CSI399997 advanced 0.6%.

** Tech shares weighted on the markets, with the semiconductor sector .CSI931865 and AI-related shares .CSI930713 losing around 2% each.

** Hong Kong shares edged higher as traders returned from a local holiday. The benchmark Hang Seng Index .HSI added 0.6% at 24,221.41, while the Hang Seng China Enterprises Index .HSCE, which tracks Chinese H-shares listed in the city, gained 0.5%.

** The local property sub-index .HSNP added 2%, helping boosting the markets. Cash-strapped property giant New World Development 0017.HK surged nearly 10% after closing $11.2 billion refinancing deal.

** Caution prevailed across the region as investors await developments in trade talks, after U.S. President Donald Trump said he was not considering extending the July 9 deadline for countries to negotiate trade deals with the United States.

** The U.S. and India are nearing a deal that would lower tariffs on American imports to the South Asian country, while doubt has been cast on a deal with Japan.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS edged up 0.1%, while Japan's Nikkei index .N225 was down 0.6%.

** BlackRock Investment Institute said they are neutral on Chinese equities in the second half due to trade policy and stimulus uncertainties, but see selective opportunities in priority sectors that could receive targeted support.

** "We see slower growth after a relatively strong first half driven by front-loaded exports and stimulus," they said.

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

((jiaxing.li@thomsonreuters.com))