HONG KONG, April 29 (Reuters) - Here are some stocks on the
move in Hong Kong on Tuesday.
As of 0243 GMT, the benchmark Hang Seng Index .HSI had
risen 0.71 percent to 25,847.26 points.
The China Enterprises Index of Hong Kong-listed mainland
companies .HSCE, or H shares, was up 0.94 percent at 14,329.63.
STOCKS ON THE MOVE:
* Shares in coal producer China Shenhua Energy
(1088.HK)(601088.SS), fell 5.4 percent to HK$35.65 after mining
giant Anglo American (AAL.L)(AGLJ.J) sold its entire 4.58 percent
stake in the company, worth $707 million, at a discount to
Monday's closing price.
The losses come after London and Johannesburg-listed Anglo
American sold 155.6 million shares overnight at HK$35.46 each,
the bottom of an indicated range, in a block trade arranged by
UBS (UBSN.VX)USN.N [ID:nHKG285977].
* Shares in China coal producer Yanzhou Coal Mining (1171.HK)
leapt more than 7 percent to HK$14.86 after the firm reported
strong Q1 results on soaring coal prices.
On Monday, the company posted a more than two-fold jump in
first-quarter net profit to 1.49 billion yuan ($212.8 million),
according to Chinese accounting standards. [ID:nHKF079128]
* China's top offshore oil and gas producer, CNOOC Ltd
(0883.HK) (CEO.N), climbed 3 percent to HK$14.34 after it said it
produced 5 percent more oil and gas in the first quarter while
its total revenue jumped 61.8 percent on high oil prices.
State-owned CNOOC, its coffers bulging with oil revenue, is
hunting for overseas assets to meet demand from China, the
world's largest oil consumer after the United States.
[ID:nHKU000993]
* Bank of China (3988.HK)(601988.SS), the country's
second-biggest lender, gained 2.3 percent to HK$3.98 after it
posted an 85 percent jump in first-quarter profit, driven by
strong fee income and a lower tax rate.
January-March earnings were 21.7 billion yuan versus 11.7
billion yuan a year earlier. The company also said it had reduced
its subprime mortgage-related debt securities to $4.4 billion
from $5 billion. [ID:nHKG348586]
* Cheung Kong Infrastructure (1038.HK) (CKI) climbed 2.17
percent to HK$33.00 after it said it would buy the entire Vector
Wellington Electricity Network Ltd for about NZ$785 million
($615.7 million).
CKI intended to sell part of its interest in the New Zealand
electricity distributor to Hongkong Electric Holdings (0006.HK)
but no formal agreement had yet been reached. Trading in shares
of CKI will resume on Tuesday. For full statement please sees
here
(US$1=HK$7.8)
