HK Hot Stocks: CNOOC, China Mobile down

Mon May 19, 2008 11:17pm EDT
 
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(Adds CNOOC, China Mobile and City Telecom)

HONG KONG, May 20 (Reuters) - Here are some stocks on the move in Hong Kong on Tuesday.

As of 0308 GMT, the blue-chip Hang Seng Index .HSI had lost 1.71 percent to 25,303.17 after opening down 0.19 percent.

The China Enterprises Index of Hong Kong-listed mainland companies .HSCE, or H shares, fell 1.68 percent.

STOCKS ON THE MOVE:

* Shares in China Mobile (0941.HK), the world's largest mobile cellular carrier by users, lost 2.15 percent after the company announced on Tuesday that its net additional subscriber growth had slowed to 7.4 million in April from 7.78 million in March. ">here

* Shares in CNOOC, China's top offshore oil and gas producer, snapped a 7-day winning steak, falling 1.25 percent even as Credit Suisse upgraded the stock to outperform from neutral on higher crude prices. [ID:nHKG14913]

* City Telecom (1137.HK) rose 4.41 percent after the company reported late on Monday that its first-half earnings to end February surged 162 percent.

For result statement please read here

# Shares in Asia Cement (China) Holdings Corp (0743.HK) staged a strong debut on Tuesday, rising as much as 62 percent from their IPO price. [ID:nHKG14199]

The company said its Sichuan Yadong Plant had resumed operations on May 19 and it did not expect any material impact on its business operation and financial performance due to the earthquake and the associated aftershocks. For details please see here

* Shares in China National Building Material (3323.HK) fell 6.4 percent after Citigroup downgraded the stock to sell from hold on profit fears. [ID:nHKG35087]

* Shares in China Unicom (0762.HK) fell 1.43 percent. The mobile operator said subscribers to its GSM cellular service rose to 125.434 million in April from 124.225 million in March, while CDMA service subscribers rose to 43.098 million in April from 42.809 million in March. For details please see here (Reporting by Alison Leung; Editing by Anne Marie Roantree)

 
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