HK Hot Stocks: Refiners, shippers cheer lower oil

HONG KONG, May 30 (Reuters) - Here are some stocks on the
move on Friday.

As of 0242 GMT, the benchmark Hang Seng Index .HSI had
edged up 0.06 percent to 24,397.52.

The China Enterprises Index of Hong Kong-listed mainland
companies .HSCE, or H shares, had risen 0.78 percent to
13,617.70.

STOCKS ON THE MOVE:
* Energy and transportation plays were in focus after oil
prices dropped $4 on Thursday as concerns about global energy
demand and strength in the dollar countered a government report
showing the biggest decline in U.S. stockpiles since 2004.

Sinopec (0386.HK), Asia's top refiner, gained 4.3 percent to
HK$7.77 on falling oil prices. Fellow refiner PetroChina
(0857.HK) climbed 2.05 percent to HK$10.96.

But China's offshore oil and gas producer CNOOC (0883.HK)
dropped 2.6 percent to HK$5.86.
Cathay Pacific (0293.HK), Hong Kong's dominant carrier climbed
2.6 percent to HK$16.34, and China's flag carrier Air China
(0753.HK) gained 2.8 percent to HK$5.87.

* Bulk shipping firms China COSCO (1919.HK) and China
Shipping Development (1138.HK) climbed on renewed interest in the
sector in anticipation of Wah Kwong Shipping's planned Hong Kong
IPO in June, and on an overnight rise in the international bulk
ship freight rate .BADI.

China COSCO gained 3.41 percent to HK$22.75. China Shipping
rose 3.1 percent to HK$26.35.
(US$1=HK$7.8)
(Reporting by Joseph Chaney; Editing by Anne Marie Roantree)