HK Hot Stocks: Sinopec, PetroChina slide

(Adds Sinopec, PetroChina and China COSCO)

HONG KONG, May 22 (Reuters) - Here are some stocks on the move in Hong Kong on Thursday.

As of 0307 GMT, the blue-chip Hang Seng Index .HSI had lost 2.70 percent to 24,773.06.

The China Enterprises Index of Hong Kong-listed mainland companies .HSCE, or H shares, fell 3.11 percent following a 0.88 percent drop for mainland China's Shanghai Composite Index .SSEC on Thursday.

STOCKS ON THE MOVE:

* Shares in Sinopec (0386.HK) fell 4.5 percent and PetroChina (0857.HK) lost 3.4 percent after Beijing denied on Thursday that it would deregulate state-set fuel prices as early as next month. Rumours about pending oil price rises drove shares of fuel producers sharply higher on Wednesday. [ID:nPEK160459]

* Shares in China COSCO (1919.HK) dropped 8 percent after Credit Suisse cut the stock to neutral from outperform. The bank also on Thursday downgraded the Asian dry bulk shipping sector to market weight from over weight on valuation and concerns over a potential vessel oversupply in 2009-10.

* Shares in aviation companies fell across the board on concerns over high fuel costs after U.S. crude oil futures CLc1 surged to a fresh record high above $135 per barrel on Thursday. [O/R].

China Eastern Airlines (0670.HK) fell 4.69 percent, China Southern Airlines (1055.HK) plunged 5.34 percent and Air China (0753.HK) lost 4.33 percent. Cathay Pacific (0293.HK) dropped 1.94 percent.

* Shares of Lenovo (0992.HK) fell 2.26 percent ahead of the release of its quarterly earnings later on Thursday. [ID:nHKG178936]

* Hang Seng Bank (0011.HK) fell 1.21 percent after Credit Suisse lowered its rating on the bank to neutral following the lender's strong share price performance over the past 12 months. [ID:nHKG158299]

* Shares of Hong Kong-based Fushan International Energy Group Ltd (0639.HK) bucked the weak sentiment to rise 5.3 percent after the company said it would pay HK$10.53 billion ($1.4 billion) for coking coal mining assets in China, as rapid growth in the steel and coking coal industry fuels demand. [ID:nHKG302014]

* Shares of Chinese import and export group China Resources Enterprise (0291.HK) fell 2.43 percent ahead of the release of its first-quarter results due later on Thursday. (Reporting by Alison Leung; Editing by Anne Marie Roantree)