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SHANGHAI, Aug 8 (Reuters) - China stocks edged down on Tuesday after the country's July exports and imports contracted more than expected.
Hong Kong shares were also down, dragged by property stocks.

** China's blue-chip CSI 300 Index and the Shanghai Composite Index closed down 0.3%. Hong Kong benchmark Hang Seng was down 1.8%.

** China's exports fell 14.5% year-on-year in July, while imports contracted 12.4%, customs data showed on Tuesday in the worst showing for outbound shipments from the world's second-largest economy since February 2020.

** Though the trade data fell short of market expectations, China stocks did not react much to the news.

** UBS analysts said in their China second-half equity outlook that current onshore market sentiment is "overly pessimistic", though they are not expecting a sharp increase in capital inflows in the short term, but a rather gradual economic recovery aided by policies that will ultimately lead stocks higher.

** Foreign capital outflow was seen via the northbound trading link, with a net sale of 6.8 billion yuan ($942.78 million) of Chinese stocks, the largest outflow in 3 weeks.

** CSI 300 Healthcare Index rebounded slightly after losing roughly 7% since the end of July, after China's new anti-corruption clampdown started.

** Chinese pharma giant Hengrui also rebounded, rising 2.6% after losing 20% since July 31.

** Mainland property developers traded in Hong Kong slumped 4.7%, with Country Garden slumping 14.4% after the company was reported missing bond payments.

** Tech giants listed in Hong Kong lost 2.6%.

($1 = 7.2105 Chinese yuan) (Reporting by Shanghai Newsroom