HK Hot Stocks - Mengniu Dairy, energy stocks drop

HONG KONG, Feb 12 (Reuters) - The benchmark Hang Seng Index .HSI falls 1.9 percent to 13,284.1 by 0311 GMT.

The China Enterprises Index .HSCE of top mainland firms is down 2.7 percent at 7,391.3.

Here are some of the stocks on the move in early trade:

* China Mengniu Dairy (2319.HK), the country's top milk producer, dropped 4.5 percent after the company said on Thursday it was liaising with Chinese authorities on the use of an additive and awaiting a reply.

Shares of the Hong Kong-listed Mengniu fell as much as 22 percent on Wednesday before closing down 12.5 percent after China's national quality watchdog said it was investigating Mengniu's use of an additive called osteoblast milk protein in its premium milk brands to make sure it was safe.[ID:nPEK316764]

Analysts said this latest investigation could hurt the scandal-tainted company in the short term. In September, Mengniu along with several other Chinese companies was found to have produced milk contaminated with chemical compound melamine.

"We believe the news could affect the sales of Mengniu's OMP (or even non-OMP) products near term. Management's ability to protect its brand image is crucial during this period," Goldman Sachs analysts said in a report.

"As it may take some time before we hear the final word from the government, the situation adds uncertainty to the stock in short term."

* Asia's top oil and gas producer PetroChina (0857.HK) fell 4.4 percent to HK$6.12, adding to a 3 percent fall on Wednesday after crude oil prices took another hit overnight on demand concerns. Oil prices were steady on Thursday.

Offshore oil specialist CNOOC (0883.HK) was down 2.2 percent while top refiner Sinopec Corp (0386.HK) dropped 3.6 percent.

* First Shanghai Investments (0227.HK) slid 4 percent after the company said it expected to record a loss in the second half of 2008 due to widespread economic and financial uncertainty, which has had a negative impact on most of the firm's businesses.

For statement click here 0211194.pdf * Shares in TOM Group (2383.HK), a media company controlled by billionaire Li Ka-shing, vaulted 12.5 percent after the firm said it would form a strategic partnership with China Post Group to jointly develop e-commerce business in China.

For statement click here 0211137.pdf (Reporting by Parvathy Ullatil; Editing by Anshuman Daga) (parvathy.ullatil@thomsonreuters.com; +852 2843-6415))

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