Concerns over steep losses this year and signs of a mounting recession beat down stocks across the board, with only 49 of the total 1,097 issues traded higher in Thursday morning trade.
The China Enterprises Index .HSCE of top locally listed mainland firms had fallen 4.4 percent to 6,901.05.
Here are some of the stocks on the move in early trade-
* Shares in London-based lender Standard Chartered (2888.HK) (STAN.L) dived 6.6 percent on Wednesday, underperforming other regional banking stocks after Mervyn Davies stepped down as chairman of the Asia-focused bank.
The stock fell to HK$90.60, recovering slightly from the day's low of HK$88.5.
Davies, who led the bank as chief executive from 2001 to 2006 and is credited with playing an important role in restructuring the bank following the setbacks it suffered during the Asian financial crises of 1997-1998, will take up a role as British minister for trade and investment.
"...this is nonetheless an unexpected if not unwelcome development, amidst unsettled markets and uncertain macro outlooks for several of Standard Chartered's key markets," said Goldman Sachs analyst Roy Ramos.
* China Southern Airlines (600029.SS), the country's largest carrier by fleet size, sank 6.2 percent after the air carrier said it estimated it would report a loss for 2008.
The airline blamed its poor performance on the slowdowns in the global and Chinese economies, which cut its passenger volume growth to single digits for the first time in five years, as well as high domestic fuel prices during the year.
In 2007, China Southern posted a net profit of 1.85 billion yuan ($271 million). It is due to release its 2008 earnings report in mid-April. (Reporting by Parvathy Ullatil; Editing by Clarence Fernandez) (parvathy.ullatil@thomsonreuters.com; +852 2843-6415))
ASIA-PACIFIC STOCK MARKETS: Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS] S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW] Australia/NZ.........[.AX] India.......[.BO] China......[.SS]
OTHER MARKETS: Wall Street...........[.N] Gold.........[GOL/] Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R] JP bonds...[JP/] ADR Report..........[ADR/] LME metals..[MET/L] US bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News Europe...[STXNEWS/EU]
DIARIES & DATA: IPO diary & data
[WEU/EQTY] Taiwan diary [TW/DIARY] Wall Street Week Ahead [.N/O] Eurostocks Week Ahead [.EU/O] World forecasts EQUITYPOLL1
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