HK Hot Stocks-China banks recover, HKEx weighs

HONG KONG, July 10 (Reuters) - Hong Kong shares pared early losses on Thursday, helped by a recovery in Chinese lenders, as investors continued to focus on positive earnings estimates and talk that China may ease its aggressive credit tightening stance.

At 0313 GMT, the Hang Seng Index .HSI had dropped 0.6 percent to 21,671.80 after opening 1.1 percent lower.

The China Enterprises Index .HSCE of top locally listed mainland companies outperformed to rise 0.4 percent.

Here are some of the stocks on the move on Thursday.

* China Construction Bank (0939.HK) rose 0.7 percent, while Bank of Communications gained (3328.HK) 1.5 percent.

China Merchants Bank (3968.HK), which last week estimated a more than 100 percent growth in its first-half net profit, added 3.8 percent to its recent rally.

* Blue chips led losses, with investors locking in gains on Wednesday's 2.8 percent rally as worries over the global credit crisis hit the spotlight again after a slide on Wall Street.

HSBC Holdings (0005.HK) fell 1 percent. Asia's largest wireless company, China Mobile (0941.HK), slid 1.8 percent.

* Bourse operator Hong Kong Exchanges & Clearing (HKEx) (0388.HK) dropped 2.2 percent, as dwindling turnover raised concern over earnings and analyst reports called for lower valuations of the stock. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)