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HK Hot Stocks:PetroChina, Shanghai Electric down, Lenovo up

Thu Apr 17, 2008 11:41pm EDT
 
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HONG KONG, April 18 (Reuters) - Here are some stocks on the move in Hong Kong on Friday.

As of 0326 GMT, the blue-chip Hang Seng Index .HSI had edged up 0.29 percent to 24,328.21 after opening down 0.10 percent.

But the China Enterprises Index of Hong Kong-listed mainland companies .HSCE, or H shares, was down 2.18 percent following a weaker Shanghai market.

Shanghai stocks .SSEC tumbled more than 4 percent early on Friday before recovering to 3,152, down 2.20 percent at 0326 GMT, with PetroChina (601857.SS: Quote, Profile, Research, Stock Buzz) sliding below its IPO price for the first time.

STOCKS ON THE MOVE:

* Shares in PetroChina (0857.HK: Quote, Profile, Research, Stock Buzz) fell 1.68 percent to HK$9.93 in Hong Kong after they dropped more than 5 percent in Shanghai to hit a low of 16 yuan, below the stock's offering price of 16.70 yuan in last year's Shanghai IPO. For Shanghai market story please read [TD:nSHA246840]

* Shares in Lenovo, the world's No. 4 personal computer maker, rose 2.2 percent after IDC reported on Thursday that PC shipments worldwide rose 14.6 percent in the first quarter, above previous estimates. For IDC story please read [ID:nN16461894]

A strong showing by U.S. technology bellwether International Business Machines Corp (IBM.N: Quote, Profile, Research, Stock Buzz) also helped to lift sentiment on technol

 

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