HK Hot Stocks: COSCO Pacific, Sinopec Shanghai fall

HONG KONG, April 8 (Reuters) - Here are some stocks on the move in Hong Kong on Tuesday.

As of 0237 GMT, the blue chip Hang Seng Index .HSI had dropped 0.84 percent, as profit-taking pressure and renewed fears about a U.S. recession loomed.

The China Enterprises Index of Hong Kong-listed mainland companies .HSCE, or H shares, was down 1.05 percent.

STOCKS ON THE MOVE:

* COSCO Pacific (1199.HK) fell as much as 7.4 percent after Deutsche Bank downgraded the port and shipping container leasing firm to hold from buy, saying sustained weakness in the company's leasing business is alarming.

* Sinopec Shanghai Petrochemical Co Ltd (0338.HK) fell more than 3 percent after it said it would suffer a loss in the first quarter of 2008 as the gap between soaring crude prices and state-capped fuel prices widens.

* Jilin Qifeng Chemical Fiber Co Ltd (0549.HK) tumbled as much as 16 percent after it said it expected to see a significant decline or may even record a net loss for 2007 due to rising raw materials costs and stagnant demand for acrylic fibre products in China. (Reporting by Judy Hua; Editing by Anne Marie Roantree)