HK Hot Stocks-Chalco tumbles,Sinopec corrects
HONG KONG, June 19 (Reuters) - At 0212 GMT, the Hang Seng Index .HSI was down 1.8 percent at 22,917.52.
Forty-two of the index's 43 constituents were in the red, with apparel and accessories company Esprit Holdings (0330.HK) the sole winner in early trade on Thursday.
The China Enterprises Index of top locally listed Chinese companies .HSCE dropped 2.2 percent.
Here are some of the stocks on the move.
* Aluminum Corp of China (2600.HK) slid 4.3 percent as analysts warned of lower profits in 2008 and 2009 on account of increased production costs.
On Wednesday, Macquarie cut its target price on Chalco to HK$9.7 from HK$11.30 after alumina production costs rose 23 percent in the first four months of 2008 due to higher input costs of bauxite and fuel. Chalco cut its spot alumina prices to 3,500 yuan per tonne from 4,200 yuan in the beginning of June.
* Sinopec Corp (0386.HK), the most heavily traded stock early on Thursday, fell 3.1 percent after surging nearly 15 percent this week as oil price rose overnight on supply concerns folowing a strike threat by Nigerian workers.
* PetroChina (0857.HK) slid 3 percent after rallying 3.5 percent on Wednesday. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)
