HK Hot Stocks: Resource plays dive, Tencent down
HONG KONG, March 20 (Reuters) - Here are some stocks on the move in Hong Kong on Thursday:
As of 0210 GMT, the blue-chip Hang Seng Index .HSI was down 3.7 percent, tracking losses on Wall Street.
The index opened down 3.2 percent at 21,173.30.
STOCKS ON THE MOVE:
* Plunging oil and gold prices knock resource plays
Gold miner Zijin Mining (2899.HK) dived 15.6 percent to HK$6.35 and offshore oil specialist CNOOC Ltd (0883.HK) tumbled 7.4 percent to HK$10.54.
PetroChina Co Ltd (0857.HK), the world's most valuable energy producer, slid 6.3 percent to HK$9.20 after posting a tepid 3.7 percent rise in second-half earnings. It blamed refining losses and $6 billion in special taxes for its showing and said it would speed up overseas exploration in 2008 [ID:nHKG270338].
* China's fifth-largest lender, Bank of Communications (3328.HK), declined 3.1 percent to HK$8.17 after posting a 78 percent increase in quarterly net profit, beating analysts' estimates, on a surge in fee income. But it said 2008 would be a more challenging year [ID:nHKG317039].
* Internet services provider Tencent (0700.HK) dropped 12.5 percent to HK$36.15 after saying its yearly net profit rose 47.2 percent to 1.57 billion yuan [ID:nHKF079007]. (Reporting by Rita Chang; Editing by Ken Wills)
