HONG KONG, Sept 17 (Reuters) - Here are some stocks on the move on Wednesday.
As of 0248 GMT, the blue-chip Hang Seng index .HSI had risen 0.4 percent to 18,389.33. It
hit a session high of 18,699.18 earlier after the U.S. government agreed to bail out the troubled
insurer, American International Group, with an $85 billion rescue plan. [ID:nN16459158]
The Chinese Enterprises Index .HSCE of mainland companies listed in Hong Kong gave up a 2.4
percent gain and was down 0.24 percent at 9,214.41.
STOCKS ON THE MOVE:
* Battered Chinese telecom stocks recovered as sentiment improved and investors looked for
bargains.
China Unicom (0762.HK) rose more than 9 percent, China Netcom (0906.HK) gained 6.6 percent
and China Mobile (0941.HK) was up 3 percent.
* Air China (0753.HK) rose nearly 4 percent after oil prices fell to a seven-month low on
Tuesday. [ID:nN16491215]
But rivals China Eastern Airlines (0670.HK) fell 4 percent and China Southern (1055.HK)
lost 2.4 percent on concerns over a sharp fall in passenger traffic in August. [ID:nSHA5870]
* PICC Property & Casualty (2328.HK), which is 9.9 percent owned by AIG, gained 4 percent
after losing about 20 percent on Tuesday. Investors remained cautious as the prospect of AIG's
stake in the company was still unknown.
* Other financial plays, which were battered on Tuesday on heightened turmoil after Lehman
Brother filed for bankruptcy, were steady to firmer after the U.S. Federal Reserve planned to
lend up to $85 billion to rescue AIG. [ID:nN16459158]
Market heavyweight HSBC (0005.HK) gained 0.25 percent, Bank of China (Hong Kong) (2388.HK)
was up 1.6 percent and Bank of China (3988.HK) was unchanged.
(Reporting by Alison Leung; Editing by Ken Wills)
