HK Hot Stocks-Chalco plunges, Sinopec falls

HONG KONG, July 15 (Reuters) - At 0216, the benchmark Hang Seng Index .HSI had extended losses to fall 2.6 percent to 21,444.43 after opening 1.7 percent lower.

All 43 index constituents joined in the free fall as investors locked in gains made last week amid concern over the prospect of further negative news from the U.S. financial sector.

The China Enterprises Index .HSCE of top locally-listed Chinese firms slid 3.6 percent.

Here are some of the stocks on the move-

* Aluminum Corp of China (2600.HK), known as Chalco was the biggest percentage loser in early trade, giving up 7.2 percent after analysts weighed in on its recent output cut, saying it will impact earnings adversely despite the resultant increases in the price of the commodity. [ID:nSP243312]

* Asia's largest refiner, Sinopec Corp (0386.HK), fell 2.7 percent after Morgan Stanley cut its rating on the stock to underweight from equalweight. The brokerage also cut its earnings estimates by 50-63 percent over the next three years on refining losses amid record oil prices. [ID:nHKG157408] (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)