HK Hot Stocks - Sinopec jumps, telcos rebound

HONG KONG, June 16 (Reuters) - At 0212 GMT the Hang Seng Index .HSI had extended gains to rise 1.28 percent to 22,881.32 after opening 0.98 percent higher.

Forty-two of the index's 43 stocks rose as investors took to bargain hunting and short covering after last week's sharp correction.

The China Enterprises Index .HSCE of top locally listed mainland stocks jumped 1.45 percent

Here are some of the stocks on the move.

* Asia's largest refiner, Sinopec Corp (0386.HK), shot up 3.7 percent as U.S. crude oil futures fell below $135 a barrel in Asian trade on hopes of more supply. Key producer Saudi Arabia told the UN it would boost output next month to the fastest rate in decades to help keep pace with demand and tame sky-high oil prices. [ID:nL1582776]

* Chinese telecom stocks rallied after last week's steep losses. Asia' biggest wireless carrier China Mobile (0941.HK) was up 2 percent and fixed-line service provider China Netcom (0906.HK) climbed 2.5 percent. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)

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