HK Hot Stocks-HSBC, China Mobile lead day's losers
HONG KONG, July 2 (Reuters) - At 0320 GMT, the Hang Seng Index .HSI was down 1.1 percent at 21,870.37 after opening at its lowest level in more than three months.
The China Enterprises Index .HSCE of top locally-listed mainland firms fell 1.9 percent to 11,682.33.
Here are some of the stocks on the move:
* Offshore oil producer CNOOC (0883.HK) jumped 4.3 percent to its highest level in nearly a month after crude oil prices topped $143 per barrel overnight on supply concerns.
* Asia's largest refiner, Sinopec Corp (0386.HK), slumped 2.7 percent to its lowest since late May, giving up gains made on speculation ahead of China's fuel price hike this month.
Petrochina (0857.HK), Asia's biggest oil and gas company, which also has refining interests, fell 1.8 percent.
* Europe's largest bank, HSBC (0005.HK), led decliners with a 2 percent fall on concern over more write-downs at the lender as the global subprime crises rages on. HSBC's share price of HK$118.50 is its lowest since March 18.
Another index heavyweight, top global wireless operator China Mobile (0941.HK), joined the market slump with a 1.2 percent drop after hitting its lowest level since late March.
* Chinese financials took a beating after Shanghai's main index hit fresh 16-month lows on Tuesday over worries of an interest rate hike.
China Construction Bank (0939.HK) slipped 2.7 percent and bigger rival ICBC (1398.HK) dropped 2.1 percent. Top insurer China Life (2628.HK) stumbled 2.9 percent and Ping An Insurance (2318.HK) fell 3.9 percent.
* Local property developers slipped lower on concern over impending rate increases in the United States and recent mortgage rate hikes at local banks. Most analysts have cut their residential property price estimates for 2008 after sales failed to meet expectations in the first half.
Sun Hung Kai Properties (0016.HK) fell 2.2 percent and Cheung Kong Holdings (0001.HK) lost 1.6 percent.
* Gold miner Zijin Mining (2899.HK) gained 2.6 percent after price of the precious metal climbed to a 10-week high on Tuesday, as rising oil prices fuelled buying of gold as an inflation hedge. The stock rose 6.8 percent on Monday. (Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)
