HK Hot Stocks: PetroChina up, Hutchison firms after results

HONG KONG, March 28 (Reuters) - Here are some stocks on the move in Hong Kong on Friday.

As of 0238 GMT, the blue-chip Hang Seng Index .HSI was up 0.77 percent, bucking softer overseas markets with strong earnings from several blue-chip companies bolstering the main index. The benchmark Hang Seng Index .HSI opened up 0.38 percent.

The China Enterprises Index of Hong Kong-listed mainland companies .HSCE, or H shares, was up 1.70 percent at12,029.34 at 0237 GMT.

STOCKS ON THE MOVE:

* PetroChina (0857.HK) rose 2.64 percent to HK$9.71. PetroChina will start pumping gas from Dina field, one of the country's largest, in the remote northwest in mid-2009 to supply the gas-thirsty east coast, an industry Web site said. That would be a few years later than an earlier plan. [ID:nPEK30883]

* Shares of CNOOC Ltd (0883.HK) rose 2.52 percent to HK$11.40 despite the top Chinese offshore oil and gas producer posted a disappointing 14 percent rise in second-half earnings despite climbing oil prices, after paying out nearly $1 billion in oil taxes in 2007. [ID:nHKG664]

* Mengniu Dairy (2319.HK) rose 8.22 percent to HK$21.45. Its rival Bright Dairy & Food Co (600597.SS), China's third-largest dairy producer, said on Friday it had obtained approval from the National Development and Reform Commission to raise milk prices. [ID:nnSHA14961]

* Shares of Industrial and Commercial Bank of China (601398.SS)(1398.HK) gained 0.92 percent to HK$5.47. ICBC has priced its 8.011 billion yuan ($1.1 billion) issue of asset-backed securities, the debt's trustee said on Thursday. [ID:nSHA24621]

* Stocks of Citic International Financial Holdings (CIFH) 0183.HK rose 5.8 percent to HK$3.83. The small Hong Kong lender said on Thursday it wrote down HK$1.31 billion ($168 million) for 2007 to reflect the fall in value on its holdings in structured investment vehicles (SIVs). [ID:nHKG144639]

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