HONG KONG, Oct 25 (Reuters) - By 0315 GMT, the benchmark Hang Seng Index <.HSI> was up 1 percent to 23,746.3
The China Enterprise Index <.HSCE> of top locally listed mainland companies was up 1.8 percent.
Here are some stocks on the move:
* Yanzhou Coal Mining Co Ltd <1171.HK>, up 6.2 percent, led a rally in coal issues after the company reported late on Friday a 227 percent surge in third-quarter profit. [ID:nHKF002818]
The company posted a third-quarter profit of 3.7 billion yuan ($555.7 million) on higher sales volume, an increase in average coal price and a non-cash forex gain.
Larger rival China Shenhua Energy Co Ltd <1088.HK>, which is due to report earnings later this week, was up 4.4 percent and was the top gainer on the Hang Seng Index.
China Coal Energy Co Ltd <1898.HK>, set to report earnings on Tuesday, was up 4 percent.
Yanzhou is up 35 percent this year, trading at a 24 percent premium to the 10-year median forward 12-month price-to-earnings multiple, prompting some market players to take a cautious stance on the stock going forward.
Traders at Samsung Securities said in a note to clients that they expected the stock to underperform in the medium term, given that the company's results excluding the forex gain were weak.
* Hong Kong Exchanges & Clearing Ltd <0388.HK>, which operates the Hong Kong stock exchange, rose 3.8 percent, extending gains for the month to 17.6 percent after advancing 25.3 percent in September.
A big rise in turnover, a robust IPO pipeline in Hong Kong and hopes for new products as a consequence of Beijing's yuan liberalisation moves have driven investor interest in HKEx in recent weeks.
Evidence of the growing dominance of HKEx amongst regional
exchanges is the surprise launch by Singapore Exchange Ltd
Goldman Sachs expects the recent surge in average daily turnover to levels last seen in 2007 to continue, reflecting a strong Chinese economy, improved market sentiment and increased fund inflows into Asia.
The brokerage has a "buy" rating on the stock and a 12-month price target of HK$221, a 23 percent upside from current levels. (Reporting by Vikram S Subhedar; Editing by Chris Lewis)