UPDATE 1-HK Hot Stocks:China Unicom, Netcom up, CNOOC falls

(Adds China Unicom and China Netcom)

HONG KONG, May 23 (Reuters) - Here are some stocks on the move in Hong Kong on Friday.

As of 0300 GMT, the blue-chip Hang Seng Index .HSI had lost 0.57 percent to 24,899.54. It opened up 0.17 percent.

The China Enterprises Index of Hong Kong-listed mainland companies .HSCE, or H shares, fell 0.92 percent, after a 1.41 percent drop in mainland China's Shanghai Composite Index .SSEC on Friday.

STOCKS ON THE MOVE:

* Shares in China Unicom (0762.HK) rose 5 percent and China Netcom (0906.HK) gained 4.4 percent on market speculation that an expected sector restructuring will come soon after personnel changes among the sector to be announced as early as on Friday.

* Shares in small-cap China National Resources Development (0661.HK) soared 24 percent after the company said late on Thursday that it had obtained a mining licence for the Tuv Province Wolfram Mine in Mongolia.

* Shares in CNOOC, China's largest offshore oil producer, fell 4.6 percent after oil prices pulled back sharply overnight from a record above $135 a barrel on Thursday. [O/R]

* Shares in Lenovo (0992.HK), world's No. 4 PC maker, fell 3.4 percent after Deutsche Bank downgraded the stock on Friday to hold from buy on valuation. It had outperformed the blue chip Hang Seng Index .HSI by 29 percent since Jan. 30, the bank said in a research note.

Lenovo doubled its fourth quarter earnings, but lagged forecasts as a decelerating U.S. economy depressed laptop sales, while competition intensified with the likes of Asian rival Acer (2353.TW) [ID:nHKG129404]

* Shares in China Railway Construction Corp (1186.HK) eased 1.3 percent after the company said 32 people related to the company had died and 16 construction projects suffered from different levels of impact in the earthquake. For details please see here

* Shares in Karce International (1159.HK) jumped 10 percent after the company said it would buy a firm which holds sale patents of Taiwan Micro Display Corp for HK$3.4 billion, a deal to be settled by issue of convertible bonds and promissory note. For details please see here

* Shares in Zhejiang Glass (0739.HK) tumbled 9.2 percent after the company said it was selling up to 64.17 million new H-shares at HK$6.05 each, a 14.18 percent discount to its closing price HK$7.05 on Wednesday, raising about HK$382 million to expand its glass production business. For details please see here (Reporting by Alison Leung; Editing by Anne Marie Roantree)