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PetroChina and Hutchison Move Up At HK Stock Market

There some hot stocks on the move in Hong Kong on Thursday

PetroChina and Hutchison Move Up At HK Stock Market

There some hot stocks on the move in Hong Kong on Thursday.

Oil refiner PetroChina, topped the most heavily traded stocks, gaining 2.94 percent to HK$11.22. CNPC, parent of PetroChina and a dominant energy supplier in southwest China, said it delivered an additional 100,000 tonnes of refined oil products to Sichuan. It also said the impact on oil demand was marginal due to the loss of power.

Shares of Hutchison Whampoa rose 2.98 percent to HK$81.40 after Citigroup upgraded the ports-to-telecom conglomerate to buy from hold, saying Hutchison was turning the corner as its 3G business was expected to break even this year and it was likely to get an expected bumper contribution from China property in 2008. It raised Hutchison's target price to HK$90 from HK$82.

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