HK Hot Stocks: Food stocks rot, HK utilities up

HONG KONG, March 11 (Reuters) - Here are some stocks on the move in Hong Kong on Tuesday:

As of 0245 GMT, the blue-chip Hang Seng Index .HSI was down 1.1 percent, widening opening losses.

The index opened down 0.3 percent at 22,634.71.

STOCKS ON THE MOVE:

* Food stocks take further hits after China's February consumer prices rose 8.7 percent from a year ago, the highest level in more than 11 years.

Investors fear the price freezes imposed by Beijing on some food products may see no let-up in the near term as China has made inflation fighting a top priority.

Chinese dairy processor Mengniu Dairy (2319.HK: Quote, Profile, Research, Stock Buzz) slid 3.7 percent to HK$17.90 and food processor China Foods (0506.HK: Quote, Profile, Research, Stock Buzz) slumped 3.1 percent to HK$4.42.

* Hong Kong utilities leap further as investors seek safe havens and alternatives to mainland power producers which are under pressure from high coal prices and tariff freezes.

Hongkong Electric (0006.HK: Quote, Profile, Research, Stock Buzz) jumped 2.4 percent to HK$45.55 and CLP Holdings (0002.HK: Quote, Profile, Research, Stock Buzz) ramped up a further 1.9 percent to HK$61.75. (Reporting by Rita Chang)