HK Hot Stocks - Energy stocks drop, metals tank
HONG KONG, Aug 5 (Reuters) - At 0251 GMT, the Hang Seng Index .HSI was down 1.7 percent at 22,129.42.
Resources counters were roiled in early trade on retreating international commodity prices as fears of a global slowdown and softening demand weighed in.
The China Enterprises Index .HSCE of top locally listed Chinese firms slipped 1.8 percent.
Here are some of the stocks on the move-
*Gold miner Zijin Mining (2899.HK) slumped nearly 9 percent to hit a one-year low after prices of the precious metal fell below $900 an ounce on weaker oil, reducing its safe haven appeal.
*HSBC (HSBA.L) (0005.HK) slid 2.1 percent after reporting a 28-percent drop in first-half profit as it took a $14 billion hit from bad debts on U.S. home loans and asset write-downs.
Europe's largest bank said on Monday it was still too soon to say whether bad U.S. housing debts had peaked in the first half of the year, despite a slower rate of deterioration.
*Offshore oil producer CNOOC (0883.HK) dropped 4.2 percent while Asia's largest oil & gas company PetroChina (0857.HK) fell 1.34 percent.
Coal miner China Shenhua Energy (1088.HK) was down 5.9 percent to become the biggest percentage decliner on the main index, after hitting a fresh one year low of HK$25.85 right after the open. China Coal Energy (1898.HK), the nation' second largest coal miner, lost 5.3 percent, while smaller rival Yanzhou Coal (1171.HK) plunged 6 percent.
*Metal stocks joined the slump with steep losses on concern over slowing economic growth in China, which is seen softening demand.
Aluminum Corp of China (2600.HK) gave up 5.5 percent. The biggest locally-listed steel manufacturer Angang Steel (0347.HK) dropped 7 percent, while Maanshan Iron & Steel (0323.HK) fell 6.7 percent.
(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)
