HK Hot Stocks: PetroChina and Hutchison rise

HONG KONG, May 15 (Reuters) - Here are some stocks on the
move in Hong Kong on Thursday.

As of 0239 GMT, the benchmark Hang Seng Index .HSI had
risen 0.39 percent to 25,633.50 points. The index opened up 0.73
percent.

The China Enterprises Index of Hong Kong-listed mainland
companies .HSCE, or H shares, was up 0.61 percent at 14,065.72
points.

STOCKS ON THE MOVE:

* Oil refiner PetroChina (0857.HK), topped the most heavily
traded stocks, gaining 2.94 percent to HK$11.22. CNPC, parent of
PetroChina (0857.HK) and a dominant energy supplier in southwest
China, said it delivered an additional 100,000 tonnes of refined
oil products to Sichuan. It also said the impact on oil demand
was marginal due to the loss of power. [ID:nL14832223]

* Shares of Hutchison Whampoa (0013.HK) rose 2.98 percent to
HK$81.40 after Citigroup upgraded the ports-to-telecom
conglomerate to buy from hold, saying Hutchison was turning the
corner as its 3G business was expected to break even this year
and it was likely to get an expected bumper contribution from
China property in 2008. It raised Hutchison's target price to
HK$90 from HK$82.

* Shares of Tencent Holdings (0700.HK) climbed 7.9 percent to
HK$69.85 after Citigroup raised its target price for the Chinese
Internet firm to HK$75 from HK$63, saying Tencent would continue
to be its top pick for 2008 after strong first-quarter earnings.
[ID:nHKG278769] [ID:nHKG293495]

* Shaw Brothers 0080.HK surged 5.88 percent to HK$22.50
after the Hong Kong media conglomerate said on Wednesday its
controlling shareholder was in talks to sell its slice of the
Hong Kong media conglomerate led by movie mogul Run Run Shaw.
[ID:nL14156688]

* Aluminum Corp of China Ltd (2600.HK) (601600.SS), the
world's No.4 aluminium maker, gained 0.88 percent to HK$13.70
after the group said it had taken over six units of its
state-owned parent worth 4.17 billion yuan ($595.5 million).
[ID:nSHA296356]

* Semiconductor Manufacturing International Corp (0981.HK)
gained 1.79 percent after China's biggest contract chipmaker said
there was no structural or equipment damage to its facilities in
Chengdu and the earthquake did not have any impact on its other
facilities in the mainland. For details please see
here
(US$1=HK$7.8)
(Reporting by Donny Kwok; Editing by Anne Marie Roantree)