HK Hot Stocks: China Railway up, airlines down

HONG KONG, March 13 (Reuters) - Here are some stocks on the move in Hong Kong on Thursday:

As of 0235 GMT, the blue-chip Hang Seng Index .HSI was down 2.4 percent, pressured by sliding mainland stock markets.

The index opened down 2.1 percent at 22,925.42.

STOCKS ON THE MOVE:

* China Railway Construction Corp (1186.HK: Quote, Profile, Research, Stock Buzz) advance in debut

China Railway, which raised $5.4 billion on record demand [ID:nHKG188525] by pricing the Hong Kong portion of its IPO at the top of a range, gained as much as 16.8 percent above its HK$10.70 IPO price. At 0234 GMT, shares were trading at HK$12.46, or 16.5 percent higher than the IPO price.

* Transport stocks take hits on high oil prices

China Southern Airlines (1055.HK: Quote, Profile, Research, Stock Buzz) slid 5.4 percent to HK$6.53.

Sinotrans Shipping Ltd (0368.HK: Quote, Profile, Research, Stock Buzz) declined nearly 5 percent to HK$4.28. The shipper posted an 18.4 percent rise in yearly profit to US$140.89 million for 2007.

* Emerging market mobile phone company Hutchison Telecommunications International (2332.HK: Quote, Profile, Research, Stock Buzz) gained 3.1 percent to HK$10.80. It said its Israeli mobile communications operating arm Partner Communications Co Ltd (PTNR.TA: Quote, Profile, Research, Stock Buzz) had announced the dismissal of a class action filed against the company. (Reporting by Rita Chang; editing by Ken Wills)