HK Hot Stocks-Foxconn dives, Yue Yuen surges

HONG KONG, June 24 (Reuters) - At 0326 GMT, the Hang Seng Index .HSI was 0.5 percent lower at 22,608.72.

The China Enterprises Index of top locally-listed mainland firms .HSCE fell 0.8 percent.

Here are some of the stocks on the move.

* Foxconn International Holdings (2038.HK) fell to its lowest level in two and half years following a sharp fall in Motorola (MOT.N) shares overnight. Motorola, one of Foxconn's biggest customers has been beset by declining market share in its home market of North America. Shares in the Taiwan handset manufacturer plunged 4.8 percent to HK$8.95. [ID:nHKG247397]

* Aluminum Corp of China (2600.HK) extended recent losses after Merrill Lych joined other brokerages in downgrading the stock on concerns over rising input costs. [ID:nHKG179255] Last week, Chalco warned of an atleast 50 percent decline in its first half profit as it grapples with increased production costs and falling prices of its main product, alumina.

* Athletic footwear make Yue Yuen Industrial Holdings (0551.HK) surged 3.4 percent after Morgan Stanley upgraded the stock to overweight from equal-weight on the recent pullback in the share price. Morgan Stanley analysts expect the company's gross margins to remain intact in the current year despite rising production costs.

* China Oilfield Services (2883.HK), an affiliate of top offshore oil producer CNOOC (0883.HK), gained 1.9 percent after opening 3 percent higher.

China Oilfield told the Hong Kong stock exchange it was considering various business opportunities, adding to speculation that it was in advanced talks to buy Norwegian oil driller Awilco Offshore AWO.OL for more than $2 billion, as reported by the Wall Street Journal last week.

* Sinopec Corp (0386.HK) fell 2.9 percent as international crude oil prices climbed on a supply disruption in Nigeria. Analysts said China's recent fuel price hike was insufficient to wipe out the troubled refiner's losses as the domestic refined product prices remained well below global price levels.

* CNOOC (0883.HK) added to Monday's gains with a 2.2 percent jump on surging crude oil prices.

* Hong Kong Exchanges & Clearing (0388.HK) slid 2.2 percent to HK$120.30 after Morgan Stanley said it expected shares in the bourse operator to fall sharply in the next 15 days. Morgan Stanley said if the average daily turnover on the exchange stayed at HK$65 billion, the fair value of the stock would fall to less than HK$100 per share. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)