HK Hot stocks - HSBC gains, Cosco plunges
HONG KONG, June 11 (Reuters) - At 0326 GMT, the Hang Seng Index .HSI was up 0.3 percent, led by gains in index heavyweight HSBC Holdings after the lender said it was pulling out of the race to acquire Korea Exchange Bank (004940.KS).
The China Enterprises Index .HSCE rose 0.15 percent after the mainland shares pared losses in late morning trade. The Shanghai Composite Index .SSEC was down 0.54 percent.
Here are some of the stocks on the move.
*HSBC Holdings (0005.HK) rose 1.02 percent after it said it may pull out of a deal to acquire South Korea's No 6 lender, the Exchange Bank (004940.KS).
* Cosco Pacific (1199.HK) was down 6.5 percent at HK$13.24. The stock fell more than 7 percent when it resumed trade after it said the huge disparity between the reported values of its bid to run and upgrade Greece's Piraeus Port stemmed from a difference in accounting standards and the inclusion of certain fees. Cosco said last week its bid was valued at 500 million euros, well below the 4.3 billion euros reported earlier.
* Cathay Pacific (0293.HK) recovered 3.24 percent after Tuesday's sharp fall as oil prices scaled back for a second day. But oil refiner Sinopec Corp (0386.HK) fell another 1.4 percent after Beijing signalled it was not likely to ease price controls on petroleum products.
* CNOOC (0883.HK) gained 2.1 percent despite the recent pullback in oil prices as crude prices surged nearly $16 towards the end of last week and is still trading above $131 a barrel.
*China Life (2628.HK) was up 1.2 percent after posting a big drop on Tuesday, following losses on mainland bourses. (Reporting by Parvathy Ullatil; Editing by Ken Wills)
