HK Hot Stocks:Chinese financial, power stocks surge

HONG KONG, April 24 (Reuters) - Here are some stocks on the move in Hong Kong on Thursday.

As of 0246 GMT, the blue-chip Hang Seng Index .HSI had gained 1.87 percent to 25,761.96.

The China Enterprises Index of Hong Kong-listed mainland companies .HSCE, or H shares, surged 3.71 percent, boosted by an 8.6 percent rally in Shanghai stocks .SSEC.

STOCKS ON THE MOVE:

* Ping An (2318.HK: Quote, Profile, Research, Stock Buzz) led the blue chip gainers to rise 8.3 percent and China Life (2628.HK: Quote, Profile, Research, Stock Buzz) surged 6.4 percent as Chinese financial stocks cheered Beijing's decision to cut the share trading tax in China.

Shares in Bank of Communications (3328.HK: Quote, Profile, Research, Stock Buzz) rose 5.2 percent.

The reduction in the stamp tax, to 0.1 percent from 0.3 percent, will make little difference to the investment costs of all but the most active short-term traders. [ID:nPEK342226]

* Chinese power firms rallied on hopes that Beijing will allow them to raise tariffs later this year.

Shares in China Resources Power (0836.HK: Quote, Profile, Research, Stock Buzz) jumped as much as 19 percent on Thursday as company executives expect the government to raise power tariffs in the third quarter of this year. They later retreated to HK$19.04, up 13.2 percent by 0231 GMT.