HK Hot Stocks: Datang Power gains, OOIL sinks

HONG KONG, March 5 (Reuters) - Here are some stocks on the move in Hong Kong on Wednesday:

As of 0232 GMT, the blue-chip Hang Seng Index .HSI was up 0.5 percent, erasing opening losses.

The index opened down 0.2 percent at 23,066.64.

STOCKS ON THE MOVE:

* Chinese power producer Datang International Power Generation Ltd (0991.HK: Quote, Profile, Research, Stock Buzz) rose 2.4 percent to HK$5.18.

The company chairman said on Tuesday he forecast a tariff increase to offset rising coal costs and that the Datang group planned to install an additional 10 gigawatts (GW) of mostly coal-fired generation capacity this year, bringing total capacity to 75 GW [ID:nPEK239889].

* Hong Kong shipping line Orient Overseas International Ltd (OOIL) slid 8.3 percent to HK$44.50. Investors booked profit in OOIL shares, following their recent uptrend and on news that the shipper said its year net profit surged to $2.55 billion, versus $580.6 million a year ago [ID:nHKU000969].

* Hong Kong mobile service provider Smartone Telecommunications Holdings Ltd (0315.HK: Quote, Profile, Research, Stock Buzz) slid 4.6 percent to HK$7.32 after it reported first-half results. The company said revenue fell 2 percent from a year earlier, although profit more than tripled. For details, click on: here (Reporting by Rita Chang; Editing by Anne Marie Roantree)