HK Hot Stocks - CNOOC, coal stocks slide

HONG KONG, July 18 (Reuters) - At 0320 GMT, the Hang Seng Index had trimmed gains to 0.4 percent to 21,825.29, after opening 1.3 percent higher. The index trimmed gains as Wall Street is expected to take a beating today following earnings disappointments from three major companies.

Google (GOOG.O: Quote, Profile, Research, Stock Buzz), Microsoft MSFT.N and Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz), which announced their results after the bell on Thursday, missed analyst estimates.

The China Enterprises Index .HSCE of top locally listed mainland stocks rose 0.3 percent.

Here are some of the stocks on the move:

* Offshore oil producer CNOOC (0883.HK: Quote, Profile, Research, Stock Buzz) slid 3.1 percent as oil prices held below $130 per barrel on Friday, down nearly 12 percent from last week's record.

* Coal stocks weighed on the China Enterprises Index as Yanzhou Coal (1171.HK: Quote, Profile, Research, Stock Buzz) gave up 6.2 percent and China Shenhua Energy (1088.HK: Quote, Profile, Research, Stock Buzz) fell 1.8 percent. Coal prices in China, which have been capped since earlier this month, are unlikely to be increased until after the Olympics even as power production has been falling.

* Europe's largest bank, HSBC Holdings (0005.HK: Quote, Profile, Research, Stock Buzz), climbed 1.1 percent, leading gains on the main index after U.S. peer JP Morgan (JPM.N: Quote, Profile, Research, Stock Buzz) surprised investors with a smaller-than-expected profit decline for the first half. [ID:nN17472235]

* Yue Yuen Industrial (0551.HK: Quote, Profile, Research, Stock Buzz) fell 0.6 percent after Merrill Lynch downgraded the stock to neutral from buy on Friday and trimmed its forecasts on fiscal 2008-2010 earnings for the world's largest maker of sport shoes by 5-8 percent, citing slowing sales

(Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)