HK Hot stocks-Cathay,Air China lower; Sinopec gains

HONG KONG, June 17 (Reuters) - At 0315 GMT, the Hang Seng Index had slipped 83.93 points, or 0.35 percent, to 22,945.76 after opening little changed.

The China Enterprises Index .HSCE was down 0.2 percent, tarcking a 1.1 percent drop on the Shanghai market .SSEC.

Here are some of the stocks on the move.

* Hong Kong's leading airline, Cathay Pacific Airways (0293.HK), dropped 2.4 percent after rallying 2.1 percent on Monday. Soaring crude oil prices and slowing passenger traffic are expected to put pressure on the company's profitability this year.

* Sinopec Corp (0386.HK) extended gains to rise 2.5 percent after oil prices continued to fall overnight on hopes of higher output from Saudi Arabia. The stock jumped 3.4 percent on Monday.

* Air China (0753.HK), the nation's leading international airline, dropped 2.6 percent after the company said it carried 10.7 percent fewer passengers in May due to slowing demand and the cancellation of flights following the Sichuan earthquake

* China Railway Construction Corp Ltd (1186.HK) moved up 1.4 percent after it said the aggregate value of contracts it signed, excluding real estate development operation, amounted to 109.621 billion yuan ($15.90 billion) for the first 5 months of 2008. This represents 40.84 percent of the targeted new contract value for the year, and a year-on-year rise of 152.31 percent.

* Kingway Brewery Holdings (0124.HK) tumbled 5.2 percent after the company said it expects to post a loss in its 2008 interim results. The company, which partners with Heineken in China, has been hit by falling sales and an increase in production costs amid new expansion in its Xian, Chengdu and Foshan brewery plants. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)