HK Hot Stocks: HKEx at 7-mth lows, Honghua falls

HONG KONG, March 7 (Reuters) - Here are some stocks on the move in Hong Kong on Friday:

As of 0234 GMT, the blue-chip Hang Seng Index .HSI was down 2.6 percent, as fresh credit market woes prompted investors to sell shares across the board.

The index opened down 2.8 percent at 22,694.23.

STOCKS ON THE MOVE:

* Newcomer Chinese oil rigs manufacturer Honghua Group Ltd (0196.HK: Quote, Profile, Research, Stock Buzz), which raised about $409 million in its Hong Kong initial public offering, was trading at HK$3.55, 7.3 percent lower than its HK$3.83 IPO price.

Shares traded at a high of HK$3.98 earlier, a 4 percent gain.

* Hong Kong Exchanges and Clearing Ltd (0388.HK: Quote, Profile, Research, Stock Buzz) dropped 3.3 percent to HK$138.4, as investors worry the bleak U.S. economic outlook would keep investors on the sidelines, weighing on already thin turnover levels. The stock is now at last August's levels.

* Semiconductor Manufacturing International Corp (SMIC) (0981.HK: Quote, Profile, Research, Stock Buzz) tumbled 5.4 percent to HK$0.53, having earlier tapped all-time lows. This comes after National Semiconductor Corp (NSM.N: Quote, Profile, Research, Stock Buzz) said its quarterly profit dropped [ID:nN06266106].

* Record crude prices hit airlines