HK Hot Stocks: Baidu results lift Alibaba, Chalco up

Wed Feb 13, 2008 9:27pm EST

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HONG KONG, Feb 14 (Reuters) - Here are some stocks on the move in Hong Kong on Thursday:

As of 0219 GMT, the blue-chip Hang Seng Index .HSI was up nearly 3 percent, after U.S. January retail sales posted a surprise gain, easing fears of a recession.

The index opened up 3.1 percent at 23,893.51.

STOCKS ON THE MOVE:

* Chinese internet plays leap on Baidu (BIDU.O: Quote, Profile, Research, Stock Buzz) results

Top Chinese ecommerce firm Alibaba.com (1688.HK: Quote, Profile, Research, Stock Buzz) surged 4.3 percent to HK$19.88 and Internet value added services provider Tencent Holdings (0700.HK: Quote, Profile, Research, Stock Buzz) jumped 2.7 percent to HK$47.95, a day after China's top search engine Baidu.com Inc reported a better-than-expected 79 percent surge in quarterly profit [ID:nN13383445].

* Li & Fung (0494.HK: Quote, Profile, Research, Stock Buzz), which sources for global mass retailers, leapt 3.6 percent to HK$28.7, helped by an unexpected rise in January U.S. retail sales.

* Aluminium Corp of China (Chalco) (2600.HK: Quote, Profile, Research, Stock Buzz) shot up 6 percent to HK$13 amid market talk that its parent Chinalco and Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz), which have bought a 12 percent stake in Rio Tinto's London-listed shares (RIO.L: Quote, Profile, Research, Stock Buzz), could raise their stakes to as much as 20 percent, a move that may help China's top alumina producer defend against high prices for raw materials.