HK Hot Stocks-Esprit, China Taiping, Shineway rise

HONG KONG, March 16 (Reuters) - By 0357 GMT, the benchmark Hang Seng Index was down 0.2 percent at 21,034.34. The China Enterprises Index of top locally listed mainland Chinese stocks was 0.26 percent lower at 11,940.01.



Here are some of the stocks on the move:

* Europe-focused fashion retailer Esprit Holdings was up 3.6 percent, reflecting an improving outlook for the eurozone economy, particularly Germany, its biggest market, spurred by lower interest rates, dealers said.

* China Taiping Insurance rose 2.2 percent on speculation the insurer would book profit on its plan to sell Ming An Insurance Company (China).

* China Shineway Pharmaceuticals rose 10.4 percent after Goldman Sachs upgraded the stock to 'buy' and raised its target price, dealers said.

* Hong Kong Resources Holdings gave up some gains and was up 14.2 percent. The firm said it would buy the 40 percent stake it did not already own in gold and jewellery retailer China Gold Silver for HK$543.9 million ($70.10 million), a deal to be settled in cash and an issue of shares at HK$1.63 each, a 28.3 percent premium over its previous close. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20100315/LTN20100315662.pdf

* Tianjin Development fell 4.2 percent. The company said it expected a significant decline in its 2009 results. The company cited a drop in business at Tianjin port caused by the global economic downturn and provisions to be made regarding the possible repurchase of toll road projects as a result of an adjustment in national policy. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20100315/LTN20100315455.pdf

* Xiamen International Port shed 4 percent after saying it expected to post a sharp drop in unaudited consolidated net profit for 2009 on a drop in port throughput. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20100315/LTN20100315255.pdf

* Renhe Commercial inched up 0.6 percent. The company said it had secured approval from the National Civil Air Defence Office to develop and operate underground commercial centres in Wuhan City in Hubei Province, and Ganzhou City in Jiangxi Province. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20100315/LTN20100315668.pdf
((Reporting by Jun Ebias; Editing by Chris Lewis))
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