* Concerns over inflation downplayed by U.S. Fed comments
* Tech, property firms lead gains
SHANGHAI, May 26 (Reuters) - Hong Kong shares extended gains for a second session in a row on Wednesday, led by tech and property stocks, as risk sentiment strengthened on easing inflation worries and a strong yuan.
** At the midday break, the Hang Seng Index was up 0.71% at 29,117.18, after posting its best intraday jump in nearly two months on Tuesday. Chinese H-shares listed in Hong Kong rose 0.52% to 10,849.29.
** Leading the gains, the tech sector sub-index gained 1.4%, while the property sector sub-index rose 1.3.
** U.S. Federal Reserve officials reaffirmed a dovish monetary policy stance on Tuesday, boosting sentiment in Asian markets. ** Shares of China’s smartphone maker Xiaomi Corp hit a three-month high after the company said a U.S. court had removed its designation as a Communist Chinese Military Company and lifted all restrictions on U.S. persons buying or holding its stock.