By Nerilyn Tenorio and Claire Zhang

HONG KONG/SHANGHAI, June 4 (Reuters) - Hong Kong and China stocks ended lower on Thursday as weaker-than-expected U.S. private jobs data triggered fresh economic recovery worries, and signs of bargain-hunting began to emerge before trading closed.

Property and energy stocks were among the biggest decliners in both markets as traders cashed in recent gains, while a drop in global oil prices overnight added pressure.

Crude oil hovered around US$66 ($94.99) per barrel in Asian trade after dropping more than 3 percent on Wednesday on an unexpected buildup in U.S. crude stockpiles and a stronger U.S. dollar.

"The markets are now in consolidation mode. The past two days have been volatile and the latest U.S. economic indicators were bad," said Kenny Tang, research head at Hong Kong-based Redford Securities.

PetroChina, the Shanghai index's most heavily weighted stock, fell 1.7 percent to 14.15 yuan, and declined 1.1 percent percent to HK$9.12 ($1.69) in Hong Kong.

Overall losses were limited, with some stocks benefiting from lower crude oil prices while steel shares outperformed, providing some market support.

The Hong Kong benchmark Hang Seng Index closed down 0.4 percent or 73.7 points at 18,502.77.

Turnover dropped to HK$83 billion from Wednesday's HK$90.6 billion.

The China Enterprises Index of top mainland companies fell 1.1 percent or 118.52 points to 10,706.68.

Bulk shippers, which have made huge strides in recent weeks on improving sea-freight rates, pulled back on Thursday even though the key freight index rose 4.5 percent overnight as Forward Freight Agreements (FFAs) collapsed.

China Cosco retreated 6.9 percent to HK$11.02. China Shipping Development slid 6.5 percent to end at HK$11.52.

Hopson Development tumbled 9.4 percent to HK$13.12 after the property developer on Thursday said it would sell HK$1.596 billion ($294.2 million) worth of new shares to third-party investors at HK$13.30 per share.

Other property developers lost ground following a rally in recent weeks on reports of strong sales and improving home prices. The Hang Seng Properties sub-Index dropped 2.1 percent after gaining 17 percent in the two weeks to Wednesday.

China Unicom continued to outperform after mainland China's second-largest wireless service provider reduced tariffs related to roaming and IDD services on its 3G networks. The stock gained 2.4 percent to close at HK$11.34, even as bigger rival China Mobile slipped 0.4 percent to HK$78.35.

Utility HK & China Gas finished up 4.6 percent at HK$15.90, off a high of HK$16.18. Retailer Li & Fung rallied 6.9 percent to HK$23.40 after UBS upgraded the stock to buy from sell with a price target of HK$26.

RECOVERY "NOT WELL-GROUNDED"

Mainland stocks slipped 0.41 percent, snapping a four-session rally on renewed worries about economic recovery, with energy shares sliding, although strength in steel and metal shares helped to lift the index off its lows.

The Shanghai Composite Index ended down 11.345 points at 2,767.244 points, retreating from Wednesday's 10-month closing high.

Falling Shanghai A shares outnumbered gainers by 517 to 400, while turnover in Shanghai A shares rose to a seven-week high of 179.0 billion yuan ($37.7 billion), its second-heaviest this year, from Wednesday?s 159.5 billion yuan.

China's State Council, or cabinet, sounded a note of caution on the economy's outlook, warning in a statement issued late on Wednesday that the employment situation was still severe and that economic recovery was not yet well-grounded.

Analysts said weak overseas stock markets and bleak U.S. data also stirred investor worries about the speed of economic recovery, while pressure from a planned resumption of mainland initial public offerings as early as next week helped to spur profit-taking after the index hit a new high for the year.

"The U.S. economic situation doesn't look good, and China's export situation seems to be having difficulty reaching a turning point," said Huatai Securities analyst Chen Huiqin.

A Reuters poll indicated that Chinese data for May, due for release next week, is likely to show the economy solidifying its foothold on the way to recovery, with exports to drop further while investment and industrial output rise.

Analysts viewed the day's fall as consolidation after recent gains, adding that it could continue to draw support from ample market liquidity, especially if overseas markets stabilise.

"Large-cap valuations still look attractive to some investors and the index has performed very strongly this week. Its next target lies at 2,800 points," said Xiangcai Securities analyst Li Shiming.

Steel shares outperformed, with Baoshan Steel up 4.7 percent at 6.70 yuan. One analyst said steel stocks may have been buoyed by the insistence of the industry's lead negotiator in iron ore supply talks for price cuts of at least 40 percent.

Metal shares were strong, with Aluminum Corp of China Ltd (Chalco) jumping 7.6 percent to 12.38 yuan.