Hk Hot Stocks - Shippers sink, beverage makers gain

HONG KONG, Sept 4 (Reuters) - At 0300 GMT, the benchmark Hang Seng Index .HSI was down 0.7 percent at 20,445.18.

The China Enterprises Index .HSCE of top locally listed mainland Chinese firms had fallen 1.2 percent.

Here are some of the stocks on the move:

* Bulk shipping companies continued their downtrend, falling in line with a 4.9 percent overnight slump on the global freight index. The Baltic Dry Index .BADI, which measures changes in the cost of shipping commodities, fell for an 11 straight session to hit a seven-month low on Wednesday.

China Cosco (1919.HK: Quote, Profile, Research, Stock Buzz), the nation's largest shipping conglomerate, dropped 8.2 percent to HK$12.14, its lowest level in more than a year, while China Shipping Development (1138.HK: Quote, Profile, Research, Stock Buzz) slumped 7.4 percent.

* Shares in China Communications Construction (1800.HK: Quote, Profile, Research, Stock Buzz) tumbled more than 15 percent in Thursday early trade as analysts forecast softening investment growth in China's construction sector and on rising raw material costs.

The stock, the most actively traded issue of the morning, was down 13.3 percent at HK$10.30, its lowest in more than a year.

Citigroup cut its rating on the stock to sell from hold with a reduced target price of HK$11.20, while Deutsche Bank downgraded the company to hold from buy, slashing its target price to HK$13.70 from HK$20.50. Both the notes were dated Sept. 3.

* Chinese beverage-makers continued to rally after China Huiyuan Juice (1886.HK: Quote, Profile, Research, Stock Buzz) announced a landmark $2.5 billion takeover bid from Coca-Cola (KO.N: Quote, Profile, Research, Stock Buzz) on Wednesday.

Beer brewer Kingway Brewery Holdings (0124.HK: Quote, Profile, Research, Stock Buzz) soared 17.7 percent while Tsingtao Breweries inched up 0.5 percent. Huiyuan's closest rival, China Haisheng Juice (0359.HK: Quote, Profile, Research, Stock Buzz), advanced 2 percent after falling on Wednesday.

Huiyuan Juice slipped 3.3 percent to HK$10.58 after gaining more than 164 percent on Wednesday. The stock is trading below the HK$12.2 per share offered by Coca-Cola.

(Reporting by Parvathy Ullatil; Editing by Ken Wills)