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HK Hot Stocks - Oil shares lead market higher

Published: 15 Oct 2009 19:05:07 PST

HONG KONG, Oct 16 - By 0248 GMT, the benchmark Hang Seng Index <.HSI> was up 0.37 percent at 22,080.68.

The China Enterprises Index <.HSCE> of top locally listed mainland Chinese stocks was up 0.35 percent at 12,904.48.

Here are some of the stocks on the move:

* CNOOC Ltd <0883.HK> rose 1.8 percent to HK$12.24 and PetroChina <0857.HK> gained 1.4 percent to HK$10.14, buoyed by the latest rise in crude oil prices and outperforming the benchmark index.

* Foxconn <2038.HK> extended a previous session rally, climbing a further 1.2 percent to HK$6.12 after two sources told Reuters that the handset maker's Taiwan-based parent Hon Hai Group planned to invest at least $1 billion to build a production facility in the southwestern Chinese city of Chengdu. [ID:nTP102315]

* Hong Kong-based holding firm Kaisun Energy <8203.HK> advanced 4.3 percent to HK$1.45 after it said on Thursday that it would buy out a Russian oilfield company, Nobel Holdings Investments, invested in by China Investment Corp [CIC.UL].

* Cathay Pacific <0293.HK> shares initially gained as much as 1.8 percent in reaction to the International Air Transport Association report on Thursday that Asian airlines were starting to sell more premium as well as economy seats [ID:nLF583285]. But higher fuel prices pared the gain to 0.75 percent.

* China Life Insurance <2628.HK> was up 0.4 percent on speculative interest as potential investors in property developer Excellence Real Estate Group, which sources said planned to raise up to $1 billion from a Hong Kong initial public offering.