HK Hot Stocks: Great Eagle soars, IPPs slide
HONG KONG, Feb 15 (Reuters) - Here are some stocks on the move in Hong Kong on Friday.
As of 0221 GMT, the blue-chip Hang Seng Index .HSI was down 2.2 percent, tracking declining Asian markets.
The index opened down 2.1 percent at 23,511.47.
STOCKS ON THE MOVE:
* Great Eagle Holdings Ltd (0041.HK) surged 15.7 percent to HK$28, a day after Champion REIT (2778.HK) said it would pay HK$12.5 billion ($1.6 billion) to buy a Hong Kong office and retail complex from Great Eagle, in the first major post-IPO acquisition by any of the city's property trusts.
Champion REIT fell 1.4 percent to HK$4.25.
* Mainland independent power producers (IPPs) hit by high coal prices.
Chinese power producer Huadian Power International Corp Ltd (1071.HK) tumbled 6.7 percent to HK$2.63 a day after the company said its coal costs were estimated to rise 15 percent.
Citigroup cut the stock to sell from hold [ID:nHKG171554].
Huaneng Power (0902.HK) dropped 3.7 percent to HK$6.54 and Datang Power (0991.HK) slid 4.8 percent to HK$5.54.
Overnight, benchmark U.S. coal crossed $80 a ton on NYMEX.
* Global lender HSBC Holdings plc (0005.HK) sank 2.3 percent to HK$113.5 after revelations that Swiss bank UBS (UBSN.VX) (UBS.N) was saddled with tens of billions of dollars in new exposure to risky U.S. debt, potentially pressuring financial shares. (Reporting by Rita Chang; Editing by Edmund Klamann)
