HK Hot Stocks - Sinopec surges, Beijing Airport sinks

HONG KONG, July 30 (Reuters) - At 0217 GMT the Hang Seng Index .HSI was up 1.68 percent at 22,631.43.

The China Enterprises Index .HSCE of top locally listed Chinese firms had risen 2 percent.

Here are some of the stock on the move in early trade-

*Asia's largest refiner Sinopec Corp (0386.HK) surged 4.1 percent to become the biggest percentage gainer on the main index after crude oil prices dropped over 2 percent overnight and stayed below $122 per barrel in Asian trade on Wednesday.

PetroChina, Asia's largest oil and gas producer, joined the rally with a 1.4 percent gain.

Hong Kong's leading airline, Cathay Pacific (0293.HK), advanced 2 percent while Air China (0753.HK) rallied 3.6 percent.

*Beijing Capital International Airport (0694.HK) was the biggest percentage decliner on the exchange with a near 11 percent fall after the company warned of a substantial decrease in its first-half profit on Tuesday.

* Bourse operator Hong Kong Exchanges & Clearing (0388.HK) clawed back up 3 percent after losing 4 percent on Tuesday on dwindling turnover.

Europe's largest bank HSBC Holdings was up 1.4 percent after investors read Merrill Lynch's MER.N latest write-down as signalling the bottom of the credit market troubles.

(Reporting by Parvathy Ullatil; Editing by Nick Macfie)