HK Hot Stocks-Shaw Brothers surges,Foxconn rebounds

Wed Jun 25, 2008 8:09am BST
 
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HONG KONG, June 25 (Reuters) - AT 0700 GMT, the Hang Seng Index .HSI was up 1 percent at 22,690.11, rebounding from four straight sessions of losses.

The China Enterprises Index .HSCE rose 1.6 percent to 12,211.07.

Here are some of the stocks on the move today.

* Shares in Shaw Brothers 0080.HK surged 12.4 percent on local media reports that the film and TV company was close to being bought out by Yeung Kwok-Keung, chairman of property developer Country Garden (2007.HK), for HK$12.5 billion.

Earlier, Yeung was reported to be eyeing a stake in Shaw Brothers' 26 percent-owned local broadcaster, TVB (0511.HK).

TVB shares jumped 5.7 percent.

* Offshore oil producer CNOOC (0883.HK) surged 3.2 percent, rallying for the third day in a row, as international crude oil prices hovered within sight of last week's record high.

Asia's biggest oil and gas company, PetroChina (0857.HK), gained 2.1 percent.

* Foxconn Internationa Holdings (2038.HK) jumped 4.1 percent a day after it dropped to a 2-1/2-year low. The stock has been ravaged by concern over falling market share at Motorola (MOT.N), its biggest customer for contract manufactured handsets

* Hang Seng Bank (0011.HK) rose 1.5 percent after HSBC's local unit raised its mortgage rate by 25 basis points for some customers amid higher interbank rates. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)

 

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