HK Hot Stocks-Banks, airlines, refiners shine

HONG KONG, July 17 (Reuters) - At 0225 GMT, the Hang Seng Index .HSI had jumped 2.7 percent to 21,787.37, tracking strong overseas markets on lower oil prices and easing credit concerns after a U.S. bank posted surprisingly strong results.

The China Enterprises Index .HSCE of top locally listed Chinese firms rose 3.7 percent.

Here are some of the stocks on the move:

* Financial stocks rose across the board after Wells Fargo (WFC.N), the No. 5 U.S. bank and a big mortgage lender, reported earnings that beat analyst estimates and helped U.S. bank shares post their best day in 16 years.

Bargain hunters returned to the market, mopping up badly battered financial services stocks after recent weakness. Heavy-weight HSBC (0005.HK) jumped 2.8 percent and ICBC (1398.HK) surged 3.6 percent.

Bank of China (3988.HK) climbed 3.3 percent, as investors shrugged off a report by CLSA that said the Chinese lender may hold roughly $20 billion worth of bonds issued by troubled U.S. mortgage lenders Fannie Mae (FNM.N) and Freddie Mac (FRE.N).

China Construction Bank (0939.HK) rose 3.2 percent.

* Airlines and refiners rebounded as oil price dropped further on a surprise increase in inventories and weak demand in the United States, easing concerns over the impact of soaring fuel costs on companies' earnings.

Asia's largest refiner, Sinopec Corp (0386.HK), surged 5.7 percent as lower oil prices are seen reducing its mounting refining losses. PetroChina (0857.HK) gained 3.8 percent.

Hong Kong flagship carrier Cathay Pacific (0293.HK) climbed 2.7 percent, China Southern (1055.HK) surged 5.5 percent and smaller rival China Eastern (0670.HK) rose 4.5 percent.

* Air China (0753.HK) soared 6.3 percent after an Austrian magazine quoted the Chinese airline's acting Chairman Kong Dong as saying the airline was eyeing the possible sale of a stake in loss-making carrier Austrian Airlines (AUAV.VI) by the Austrian government. [ID:nL16674595]

* Shares of top mobile operator China Mobile (0941.HK), which had given up 2.5 percent so far this week, soared 2.7 percent as bargain hunters returned. (Reporting by Donny Kwok; Editing by Anne Marie Roantree)