HK Hot Stocks: Chalco down, red-chips in focus
HONG KONG, April 14 (Reuters) - Here are some stocks on the move in Hong Kong on Monday.
As of 0229 GMT, the blue-chip Hang Seng Index .HSI had fallen 2.56 percent to 24,037.11, tracking weak overseas markets. It opened down 2.84 percent.
The China Enterprises Index of Hong Kong-listed mainland companies .HSCE, or H shares, lost 2.90 percent.
STOCKS ON THE MOVE:
* China-backed red chips were in focus after a report said China had halted A-share listings by them in Shanghai amid weak sentiment in domestic markets. The South China Morning Post quoted sources familiar with the plan as saying no red chips, including China Mobile (0941.HK), CNOOC (0883.HK), Lenovo (0992.HK) and China Netcom (0906.HK), were likely to be allowed to list A shares in Shanghai this year.
China Mobile fell 2.83 percent, CNOOC dropped 3.28 percent, Lenovo plunged 3.28 percent and China Netcom lost 3.73 percent.
* Shares of Datang International (0991.HK) fell 2.16 percent to HK$4.52 after it said at the weekend that it would contribute 9.58 billion yuan ($1.37 billion) for its portion of a 51 percent interest in a Keqi Coal-based gas company for constructing and operating a gas joint venture in Inner Mongolia with total investment amounting to 18.78 billion yuan.
* CHALCO (2600.HK) shares plunged 4.78 percent to HK$12.34. CHALCO said late on Sunday that Shandong Aluminum, which merged with the company at the end of 2007, had been in compliance with laws and regulations in terms of use of proceeds and financial independency, denying mainland reports of suspected financial forgery. For detail please see here
* Shares of BYD Co (1211.HK) fell 5.6 percent to HK$12.18. The Chinese mobile phone battery maker said late on Friday its overall business, operations or financial conditions would not be materially and adversely affected amid the latest salvo of a bitter legal dispute between BYD and Hon Hai 2137.TW -- the parent of Foxconn. For details please see here
* Shares of China Construction Bank (0939.HK) fell 3.13 percent to HK$6.50. The country's No.2 lender by assets met forecasts with a 51 percent jump in second-half earnings, boosted by higher fee income and margins, despite losses on its U.S. subprime-related holdings.
* Sino Union Petroleum $ Chemical International (0346.HK) bucked a weak market sentiment to surge 7.4 percent to HK$1.60. The company said it planned to form an equally owned joint venture with Yanchang Petroleum for oil and gas exploration and exploitation of an onshore oilfield with total capital investment of up to US$300 million. For details please see here (US$1=HK$7.8=7.006 yuan) (Reporting by Donny Kwok; Editing by Anne Marie Roantree)
