HK Hot Stocks: Chinese banks fall, Dongyue dives on debut

HONG KONG, Dec 10 (Reuters) - Here are some stocks on the move in Hong Kong on Monday.

As of 0237 GMT, the blue-chip Hang Seng Index .HSI edged up 0.37 percent but mainland Chinese firms listed in the city slipped after China's central bank tightened monetary policy over the weekend, raising bank reserve ratios by one percentage point to a record 14.5 percent.

The Chinese enterprises H-shares index .HSCE had fallen 1.02 percent as of 0237 GMT.

STOCKS ON THE MOVE:

* Chinese banking and financial stocks were under pressure after the China's central bank raised the proportion of deposits that banks must hold in reserve instead of lending out by a full percentage point. It was the tenth increase this year in the bank reserve ratio, but all the others have been by half a percentage point. The move will lock up some 350 billion yuan ($47 billion).

Industrial and Commercial Bank of China (1398.HK: Quote, Profile, Research, Stock Buzz) lost 0.48 percent to HK$6.20, Bank of China (3988.HK: Quote, Profile, Research, Stock Buzz) slipped 0.73 percent to HK$4.09, and China Construction bank (0939.HK: Quote, Profile, Research, Stock Buzz) fell 0.8 percent to HK$7.45.

* Shares in Chinese refrigerants maker Dongyue Group Ltd (0189.HK: Quote, Profile, Research, Stock Buzz) dived below their issue price to HK$1.86 in their Hong Kong trading debut on Monday. Shares of Dongyue, which raised US$144 million by pricing its Hong Kong IPO towards the low end of an indicated range, were set at HK$2.16 in pre-open trade, the same as their IPO price.

* Jiangxi Copper (0358.HK: Quote, Profile, Research, Stock Buzz) bucked the weak market sentiment and rose 1.19 percent to HK$21.20. State-controlled China Minmetals Nonferrous Metals Co and Jiangxi Copper (600362.SS: Quote, Profile, Research, Stock Buzz) made an agreed cash bid for Canadian miner Northern Peru Copper Corp NOC.TO for about US$450 million, the latest in a push by Chinese firms to shop abroad for key mining assets. [ID:nN06226570]

* Hong Kong-based watch maker and retailer Peace Mark Ltd (0304.HK: Quote, Profile, Research, Stock Buzz) lost 9.71 percent to HK$11.72 after it said late on Friday it would buy Singapore-based luxury watch retailer Sincere Watch SWAT.SI(0444.HK: Quote, Profile, Research, Stock Buzz) in a deal that values Sincere at S$530 million ($368 million). Peace Mark said it will pay for the purchase with 80 percent in cash and 20 percent in new Peace Mark shares at HK$12.096 per share. [ID:nL07892957]