HONG KONG, March 11 (Reuters) - By 0341 GMT, the benchmark
Hang Seng Index had pulled back from early gains to
decline 0.64 percent to 21,072.86. The China Enterprises Index of top locally listed mainland Chinese stocks was down
1.14 percent at 12,077.87.
Here are some of the stocks on the move:
* Bank of China had fallen 2.2 percent to a morning low of HK$3.94 by 0328 GMT after the chairman of China's fourth-largest lender by assets said the bank wanted to issue additional Hong Kong-listed H shares as soon as possible in a follow-on offering equal to 20 percent of its existing share capital.
* Poly Development had tumbled 8.8 percent to HK$1.04 by 0336 GMT. Earlier it had risen 9.6 percent to a seven-month high of HK$1.25 after the investment firm said it planned to sell 425.91 million new shares at HK$1.14 each, raising HK$485.5 million for general working capital and for development of its Chinese medicine business.
* China Mobile had slipped 0.07 percent to HK$74.10 by 0337 GMT, off an earlier gain of 0.81 percent after the world's largest mobile carrier said it would buy 20 percent of Shanghai Pudong Development Bank at a discount for $5.8 billion, a move it hopes will help it dominate the country's nascent mobile e-commerce market.
* Metal trader EPI (Holdings) was up 3.5 percent by 0339 GMT after it said production had begun at one of its oil wells in Argentina at a rate exceeding 1,000 barrels per day, indicating potential in the area.
((Reporting by Donny Kwok; Editing by Chris Lewis))
((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters Messaging: donny.kwok.reuters.com@reuters.net)) ASIA-PACIFIC STOCK MARKETS: Pan-Asia...... Japan........ S.Korea.... S.E. Asia............ Hong Kong... Taiwan..... Australia/NZ......... India....... China...... OTHER MARKETS: Wall Street........... Gold......... Currency.. Eurostocks........... Oil........... JP bonds... ADR Report.......... LME metals.. US bonds... Stocks News US... Stocks News Europe... DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Taiwan diary Wall Street Week Ahead Eurostocks Week Ahead World forecasts TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Hong Kong Dollar LME price overview Keywords: MARKETS HONGKONG STOCKS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Here are some of the stocks on the move:
* Bank of China had fallen 2.2 percent to a morning low of HK$3.94 by 0328 GMT after the chairman of China's fourth-largest lender by assets said the bank wanted to issue additional Hong Kong-listed H shares as soon as possible in a follow-on offering equal to 20 percent of its existing share capital.
* Poly Development had tumbled 8.8 percent to HK$1.04 by 0336 GMT. Earlier it had risen 9.6 percent to a seven-month high of HK$1.25 after the investment firm said it planned to sell 425.91 million new shares at HK$1.14 each, raising HK$485.5 million for general working capital and for development of its Chinese medicine business.
* China Mobile had slipped 0.07 percent to HK$74.10 by 0337 GMT, off an earlier gain of 0.81 percent after the world's largest mobile carrier said it would buy 20 percent of Shanghai Pudong Development Bank at a discount for $5.8 billion, a move it hopes will help it dominate the country's nascent mobile e-commerce market.
* Metal trader EPI (Holdings) was up 3.5 percent by 0339 GMT after it said production had begun at one of its oil wells in Argentina at a rate exceeding 1,000 barrels per day, indicating potential in the area.
((Reporting by Donny Kwok; Editing by Chris Lewis))
((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters Messaging: donny.kwok.reuters.com@reuters.net)) ASIA-PACIFIC STOCK MARKETS: Pan-Asia...... Japan........ S.Korea.... S.E. Asia............ Hong Kong... Taiwan..... Australia/NZ......... India....... China...... OTHER MARKETS: Wall Street........... Gold......... Currency.. Eurostocks........... Oil........... JP bonds... ADR Report.......... LME metals.. US bonds... Stocks News US... Stocks News Europe... DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Taiwan diary Wall Street Week Ahead Eurostocks Week Ahead World forecasts TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Hong Kong Dollar LME price overview Keywords: MARKETS HONGKONG STOCKS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
