HONG KONG, April 2 (Reuters) - Here are some stocks on the
move in Hong Kong on Wednesday.
As of 0243 GMT, the blue chip Hang Seng Index .HSI had
climbed nearly 4 percent, in a broad rally after strong gains on
Wall Street.
The China Enterprises Index of Hong Kong-listed mainland
companies .HSCE, or H shares, was up 4.8 percent.
STOCKS ON THE MOVE:
* Financial plays as soared after strong demand for a Lehman
Brother's $4 billion share offering raised hopes that the worst
was over for the financial sector.
Heavyweight HSBC (0005.HK) climbed nearly 2.6 percent to
HK$132.20, ICBC (1398.HK) gained 5.2 percent to HK$5.83, Bank of
China (3988.HK) jumped 4.7 percent to HK$3.56 and Bank of
Communications (3328.HK) soared 7.2 percent to HK$9.93.
Swiss bank UBS (UBSN.VX) rattled investors on Tuesday with
news of $19 billion in fresh writedowns [ID:nL01419180] but
markets took the view that banks are wiping their books clean of
investments tied to the U.S. subprime crisis.
* Refiners and airlines leapt as oil prices stayed off highs,
despite oil rising above $101 a barrel on Wednesday, snapping
three-straight days of losses triggered by dollar gains and
easing supply concerns in Iraq.
Sinopec Corp (0386.HK) (600028.SS), Asia's top refiner,
soared 6.6 percent to HK$7.26.
Air China (0753.HK) climbed 3.7 percent to HK$7.08, China
Southern (1055.HK) gained 1.6 percent to HK$6.25, China Eastern
(0670.HK) rose 2.3 percent to HK$4.01 and Hong Kong's dominant
carrier Cathay Pacific (0293.HK) gained 3.7 percent to HK$16.18.
On Tuesday, U.S. crude CLc1 settled down 60 cents at
$100.98 a barrel, adding to losses of more than $4 from Monday
when funds locked in commodity profits at the end of the first
quarter.
* Property stocks continued to rebound as investors looked
for bargains after recent lows.
Hang Lung (0101.HK) gained 6.6 percent to HK$29.85. China
Overseas Land & Investment Ltd (0688.HK) climbed more than 5
percent to HK$15.16 and billionaire Li Ka-shing's property
flagship Cheung Kong (0001.HK) gained over 4 percent to
HK$117.90.
(US$1=HK$7.8)
(Reporting by Joseph Chaney; Editing by Anne Marie Roantree)
