HK Hot Stocks: Hutchison up ahead of results

HONG KONG, March 27 (Reuters) - Here are some stocks on the move in Hong Kong on Thursday.

As of 0224 GMT, the blue-chip Hang Seng Index .HSI was down 1.40 percent, tracking softer overseas markets as investors remained cautious about the market's uncertain outlook and ahead of earnings reports by several major blue-chip firms.

The benchmark Hang Seng Index .HSI opened down 1.35 percent.

Blue chips including Cheung Kong (0001.HK: Quote, Profile, Research, Stock Buzz), Hutchison (0013.HK: Quote, Profile, Research, Stock Buzz), Henderson Land (0012.HK: Quote, Profile, Research, Stock Buzz), CNOOC (0883.HK: Quote, Profile, Research, Stock Buzz) and Li & Fung (0494.HK: Quote, Profile, Research, Stock Buzz) are due to announce earnings later on Thursday.

STOCKS ON THE MOVE:

* Hutchison (0013.HK: Quote, Profile, Research, Stock Buzz) shares gained 0.34 percent to HK$73.3. The ports-to-telecoms conglomerate is expected to report a 59 percent rise in 2007 earnings due to a strong showing at its Canadian Husky Energy unit and asset sales.

* Shares of Cheung Kong (0001.HK: Quote, Profile, Research, Stock Buzz) slid 0.28 percent to HK$108.1 ahead of its earnings announcement. The property group is expected to post a net profit of HK$25.86 billion in 2007, based on an average forecast from 11 analysts polled by Reuters Estimates.

* Shares of China CITIC Bank Corp (0998.HK: Quote, Profile, Research, Stock Buzz), the country's seventh-largest lender, edged down 0.26 percent to HK$3.90 despite the bank's second-half 2007 earnings beating analysts' expectations. CITIC Bank (601998.SS: Quote, Profile, Research, Stock Buzz) reported a net profit of 5.1 billion yuan ($725.8 million) in the second half, compared with 2.1 billion yuan in the second half of 2006. [ID:nHKG369859]

* Shares of China Gas Holdings Ltd (0384.HK: Quote, Profile, Research, Stock Buzz) rose 5.7 percent to HK$1.85 after the piped-gas supplier said it planned to buy more than half of the country's largest distributor of liquefied petroleum gas for 318 million yuan ($45.3 million), expanding its reach across the affluent east and shoring up its mainland gas business. [ID:nHKG368536]