HK Hot Stocks: Metal stocks, Pacific Basin jump
HONG KONG, March 4 (Reuters) - Here are some stocks on the move in Hong Kong on Tuesday:
As of 0231 GMT, the blue-chip Hang Seng Index .HSI was up 0.6 percent, narrowing opening gains.
The index opened up 1.2 percent at 23,858.04.
STOCKS ON THE MOVE:
* Surging zinc and nickel prices boost metal plays.
Chinese nickel miner Xinjiang Xinxin Mining Industry Co Ltd (3833.HK) vaulted 4.5 percent to HK$7.49. China's top zinc producer Hunan Nonferrous Metals Corp Ltd (2626.HK) jumped 3.3 percent to HK$4.08.
Gold plays also rose as the yellow metal neared its peak. Lingbao Gold (3330.HK) leapt 2.5 percent to HK$5.36 and Zijin Mining (2899.HK) jumped 2.1 percent to HK$10.86.
* HSBC Holdings plc (0005.HK) rose 1.8 percent to HK$121.5 after saying pretax profit rose 10 percent last year, driven by buoyant growth in Asia which helped Europe's biggest bank absorb $17.2 billion in bad debts as the U.S. housing crisis deepened.
(For details, see [ID:LnL03104887]).
* Dry bulk shipper Pacific Basin (2343.HK) leapt 3.1 percent to HK$13.48 after saying on Monday 2007 net profit totalled US$472.1 million, up sharply from US$110.3 million a year ago.
* JIC Technology Co Ltd (0987.HK) surged 5.6 percent to HK$0.94 after property and alternative energy investment firm HKC Holdings (0190.HK) said it would make a mandatory unconditional cash offer for all outstanding shares it did not already own in JIC for HK$0.695 per share upon completion of its purchase of 74.99 percent stake in JIC for HK$397.5 million.
HKC said any new investment in alternative energy businesses would be conducted through JIC. For details please see here (Reporting by Rita Chang; Editing by Anne Marie Roantree)
