HK Hot Stocks: Resource plays leap, StanChart vaults
HONG KONG, Feb 27 (Reuters) - Here are some stocks on the move in Hong Kong on Wednesday:
As of 0221 GMT, the blue-chip Hang Seng Index .HSI was up 2.5 percent, tracking advancing global equities.
The index opened up 1.9 percent at 24,161.19.
STOCKS ON THE MOVE:
* Global lenders leap
Standard Chartered (2888.HK) jumped 8 percent to HK$260 after its annual results beat forecasts with a 27 percent rise in annual profit, despite a higher write-down on risky assets.
StanChart also said it was confident of a strong 2008 [ID:nWLB7698].
HSBC Holdings plc (0005.HK) leapt 3 percent to HK$123.30, on track to notch up a five-session winning streak. * Resource shares jump
Gold shares climbed after spot gold prices hit historic highs.
Zijin Mining Group Co Ltd (2899.HK), China's second-biggest gold miner, shot up nearly 7 percent to HK$10.4 in heavy trade. The company has passed a domestic environmental test, paving the way for it to launch its planned Shanghai IPO, a newspaper report said on Wednesday [ID:nPEK357653].
Lingbao Gold (3330.HK) leapt 2.9 percent to HK$4.6.
Steel plays made further gains as steel makers geared up to hike prices on surging costs of raw materials, including iron ore.
Angang Steel (0347.HK) jumped 3.6 percent to HK$21.70 in another day of heavy trade. Maanshan Iron & Steel (0323.HK) surged 4.2 percent to HK$5.21.
* Office landlord Swire Pacific (0019.HK) was the second most active stock as of 0220 GMT after an institutional holder was selling $131 million worth of shares at a 4.48 percent discount to the stock's market close on Tuesday, according to a term sheet obtained by Reuters [ID:nHKG19254].
Its shares were up 1.3 percent at HK$92.75. (Reporting by Rita Chang; Editing by Edmund Klamann)
