HK Hot Stocks: Uni-President languishes, GOME jumps
HONG KONG, Dec 17 (Reuters) - Here are some stocks on the move in Hong Kong on Monday:
As of 0223 GMT, the blue-chip Hang Seng Index .HSI was down 1.2 percent, in line with other Asian markets.
The index opened down 1.2 percent at 27,236.45.
STOCKS ON THE MOVE:
* Shares in Uni-President China Holdings Ltd (0220.HK), the mainland China arm of Taiwan's largest food and beverage conglomerate, had traded between HK$3.97 and HK$4.26 in their debut by 0224 GMT, versus their IPO price of HK$4.22 a share. At 0224 GMT, Uni-President shares were trading at HK$4.12, or 2.4 percent lower than their IPO price.
* GOME Electrical Appliances (0493.HK), China's top electronics retailer, jumped 2.4 percent to HK$18.12, after saying on Sunday it would have a dominant position in key Chinese markets after taking over the management of Beijing-based rival Dazhong Electrical Appliances [ID:nHKG141348].
* Hong Kong property developers underperform
Shares in local real estate plays fell after strong U.S. inflation data suggested there may be less scope for the Federal Reserve to cut rates much further.
Hong Kong's rate cycle tends to track the U.S.'s because its currency is pegged to the U.S. dollar.
Cheung Kong (Holdings) Ltd (0001.HK) dropped 2.5 percent to HK$136.4 and Sun Hung Kai Properties (0016.HK) fell 2.2 percent to HK$155.8.
* Bourse operator Hong Kong Exchanges and Clearing Ltd (0388.HK) sank 1.7 percent to HK$221.60, on worries that the credit market crisis would keep investors out of the stock market. (Reporting by Rita Chang; Editing by Anne Marie Roantree)
