HK Hot Stocks: Sinoma jumps in debut, coal plays up
HONG KONG, Dec 20 (Reuters) - Here are some stocks on the move in Hong Kong on Thursday:
As of 0238 GMT, the blue-chip Hang Seng Index .HSI was down 0.1 percent, erasing earlier gains.
The index opened flat at 27,034.60.
STOCKS ON THE MOVE:
* New issues
China National Materials Company Ltd (Sinoma) (1893.HK), the world's largest cement engineering service provider, had traded between HK$6.01 and HK$6.38 by 0231 GMT for a gain of between 34 to 42 percent from its offering price of HK$4.50.
Chinese handset component maker BYD Electronic (0285.HK) had traded between HK$10.68 and HK$11.28, for a gain of up to 5 percent above its HK$10.75 IPO price.
Vietnam Manufacturing & Export Processing (Holdings) Ltd (0422.HK), one of the country's leading makers of scooters and motorbikes, had traded between HK$3.4 and HK$3.59 for a loss of up to 12 percent from its HK$3.75 IPO price.
* Coal stocks gain on news that mainland utilties will pay more for thermal coal in 2008 while the global demand outlook for coal next year was strong.
China Shenhua Energy (1088.HK), the country's top coal producer, jumped 1.7 percent to HK$45.75. China Coal (1898.HK) surged nearly 3 percent to HK$23.35.
* China Unicom (0762.HK) gained 2 percent to HK$16.26. The wireless provider said the total number of its GSM cellular service subscribers increased to 118.149 million in November from 117.054 million in October.
* China COSCO (1919.HK) raced up 5.2 percent to HK$23.3 after the container shipper said it was revising up its forecast for 2007 earnings by at least 50 percent to reflect better-than-expected market conditions.
The revised forecast includes contributions from its recently completed dry bulk acquisition.
* Freight company Baltrans Holdings 0562.HK soared 40.4 percent to HK$7.58, having earlier tapped a record high, after Australia's Toll Holdings Ltd (TOL.AX) said it had offered to buy the company for at least HK$7.60 per share, rising to HK$7.75 per share if it gets 90 percent acceptance [ID:nSYD83437].
* Newspaper publisher SCMP Group (0583.HK) shot up 8.4 percent to HK$2.71 after it said Kerry Media was making a mandatory general offer of HK$2.75 per share in cash for all outstanding shares Kerry did not already own for HK$2.38 billion. here (Reporting by Rita Chang; Editing by Anne Marie Roantree)
