HK Hot Stocks: China Construction Bk, Ping An jump
HONG KONG, Oct 25 (Reuters) - Here are some stocks on the move in Hong Kong on Thursday:
As of 0217 GMT, the blue-chip Hang Seng Index .HSI was up nearly 2 percent, tracking higher Asian markets.
The index opened up 1.1 percent at 29,660.47.
STOCKS ON THE MOVE:
* Hong Kong property developers advance on rate cut speculation ahead of the Federal Reserve month-end meeting.
Cheung Kong (Holdings) Ltd (0001.HK) jumped 2.7 percent to HK$131.80 and Sun Hung Kai Properties (0016.HK) climbed 2.4 percent to HK$139.50.
* Ping An Insurance (Group) Co. of China Ltd. (2318.HK) surged 3 percent to HK$109.90 after UBS raised its target price for the life insurer's shares to HK$122.2 from HK$78 and maintained a buy rating for the stock due to sustainable growth of its life insurance business. [ID:nHKG85253]
* China Construction Bank (0939.HK) surged 4.2 percent to HK$7.65 after Goldman Sachs raised the stock's rating to buy and its target price for the shares to HK$8.45 from HK$7.95 due to strong earnings growth. [ID:nHKG5650]
