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HK Hot Stocks: BoCom up after upgrade, Lenovo leaps

Thu Jan 24, 2008 9:30pm EST

Stocks

   

HONG KONG, Jan 25 (Reuters) - Here are some stocks on the move in Hong Kong on Friday:

As of 0228 GMT, the blue-chip Hang Seng Index .HSI was up 5.3 percent, boosted by sharp gains on Wall Street.

The index opened up 5.4 percent at 24,801.46.

STOCKS ON THE MOVE:

* Bank of Communications (3328.HK) shot up 12 percent to HK$9.92. Morgan Stanley upgraded the stock to overweight from neutral on Friday, citing a steep drop in the stock since the start of 2008 and a better-than-expected earnings forecast for last year.

* Computer maker Lenovo Group (0992.HK) rallied 9.2 percent to HK$4.51 after tech bellwether Microsoft Corp (MSFT.O) posted a quarterly profit that beat Wall Street forecasts [ID:nWNAS7743].

In a similar spillover effect, handset maker Foxconn International Holdings (2038.HK) vaulted 7.4 percent to HK$13.32 after cell phone chip maker Qualcomm (QCOM.O) posted a quarterly profit rise that signalled the mobile phone market was still vibrant [ID:nN23345741]. (Reporting by Rita Chang; Editing by Anne Marie Roantree)



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