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HK Hot Stocks-Chalco tumbles, CLP stays afloat

Sun Jun 22, 2008 10:23pm EDT

Stocks

   

HONG KONG, June 23 (Reuters) - At 0212 GMT, the Hang Seng Index .HSI was down 1.5 percent, unchanged from its opening level, on mounting worries that China will top off last week's fuel price increases with an interest rate hike.

China

The China Enterprises Index .HSCE fell 1.8 percent to 12,123.62.

Here are some of the stocks on the move.

* Shares in Aluminum Corp of China (2600.HK) plunged 8 percent after the company warned its first-half net profit would slide at least 50 percent on mounting production costs and falling prices of alumina.

* Local power utility CLP Holdings (0002.HK) climbed 0.9 percent as investors looked for a safe haven in the volatile market.

* Sinopec Corp (0386.HK) dropped 3.6 percent, giving up some of its recent gains, after analysts said Friday's energy price hike was insufficient to bail out the troubled refiner completely. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)



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