HK Hot Stocks: Cathay, Swire slump, Sino Gold jumps

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

As of 0219 GMT, the blue-chip Hang Seng Index .HSI was up 1.2 percent, as investors cheered Wall Street gains.

The index opened up 1.8 percent at 23,330.09.

STOCKS ON THE MOVE:

* Hong Kong carrier Cathay Pacific Airways (0293.HK: Quote, Profile, Research, Stock Buzz) slumped 2 percent to HK$16.84. Goldman Sachs downgraded the stock from buy to sell, saying Cathay's second-half results for fiscal year 2007 may have been the peak in yield growth. Goldman also said economic uncertainty and rising competition from Middle Eastern airlines could undermine Cathay's position.

Goldman also added Cathay to its conviction sell list.

Swire Pacific (0019.HK: Quote, Profile, Research, Stock Buzz) slid 2.5 percent to HK$95.3 after Goldman Sachs put the property-to-aviation conglomerate on its Conviction Sell list, citing uncertainties at Cathay Pacific in which Swire is a controlling shareholder.

* Wing Lung Bank (0096.HK: Quote, Profile, Research, Stock Buzz) surged 9.4 percent to HK$97.20 after a paper reported the controlling shareholder may sell the lender to a mainland bank. In a knock-on effect, other small lenders also rose. Wing Hang Bank (0302.HK: Quote, Profile, Research, Stock Buzz) climbed 3 percent to HK$99.50.

* Sino Gold Mining Ltd (1862.HK: Quote, Profile, Research, Stock Buzz) jumped 3.1 percent to HK$53 after advising an increase in the White Mountain Ore Reserve estimate by 81 percent. (Reporting by Rita Chang)