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 Nov 24 2008 | 02:32
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HK Hot Stocks-China Mobile falls, coal stocks slip

Updated:2008/9/1 13:08

At 0357 GMT, the benchmark Hang Seng Index .HSI was down 1.6 percent at 20,914.42.

The China Enterprises Index .HSCE of top locally listed mainland Chinese firms had fallen 1.8 percent.

Here are some of the stocks on the move in late morning trade:

* Shares in China Mobile (0941.HK: Quote, Profile, Research, Stock Buzz), the world's largest wireless carrier, added another 2.4 percent to its 7.2 percent slide in the last two sessions, as investors continued to fret about the company's growth prospects in China's changing telecom landscape.

* Fashion brand Esprit Holdings (0330.HK: Quote, Profile, Research, Stock Buzz) dropped 7.1 percent on Monday as analysts predicted another month of flat retail sales growth in Germany, Esprit's No.1 market.

The stock has plummeted 19 percent in the past two trading sessions after the company reported lower-than-expected earnings in the first half and cautioned investors about a further slowdown in the second.

* Chinese coal miners slid on fears of stricter government-imposed price caps on thermal coal.

China Shenhua (1088.HK: Quote, Profile, Research, Stock Buzz), the world's most valuable coal miner, fell 2.2 percent to HK$26.40 even after posting a 43 percent jump in first-half net profit on Friday. Credit Suisse cut its target price on the stock to HK$35 from HK$41 after factoring in the policy risk on contract coal.

Yanzhou Coal (1171.HK: Quote, Profile, Research, Stock Buzz) also fell percent on Monday.


source:Reuters

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