Quotes

* China Shipping Dev leads sector gainers

* Recent rally somewhat speculative -broker

(Adds analyst comments and stock prices)

HONG KONG, Jan 11 (Reuters) — Shares of shipping firms and port operators rose sharply in Hong Kong on Monday as a strong rebound in China’s exports fuelled hopes for a recovery of global trade and a better regional economic outlook.

China COSCO Holdings ( 1919.HK ) ( 601919.SS ) rose as much as 7.8 percent, its biggest single day gain in five months, before stabilising up 6 percent at HK$10.92 as of 0747 GMT.

Its port operating arm COSCO Pacific ( 1199.HK ) also gained 6.3 percent after surging 9.4 percent to a day high of HK$12.78.

Economic indicators have improved and China’s December exports and imports figures were better than expected due to a low base, said Andrew To, sales director at Tai Fook Securities.

But the recently rally is too sharp and a bit speculative, he said, noting that COSCO Pacific had risen nearly 30 percent in the past week.

China’s exports and imports last month beat expectations, with exports surging 17.7 percent from a year earlier to break 13 months of declines, figures released on Sunday showed. [nTOE60900L]

Dry-bulk cargo shipper China Shipping Development ( 1138.HK ) ( 600026.SS ), advanced 11.2 percent after climbing as much as 13 percent to a 16-month high of HK$15.4 earlier in the day.

Shipping companies tend to move together, said Jay JH Ryu, head of regional transport at Mirae Asset Securities.

China might beef up its iron ore stock before annual negotiations on iron ore prices and as demand for steel and iron ore keeps on rising, he said.

These are good signs for dry bulk shippers, he said. Ryu preferred dry bulk shipping stocks to container ship operators, citing less volatility.

(Reporting by Alison Leung; Editing by Jonathan Hopfner )

((alison.leung@thomsonreuters.com; +852 2843 6369; Reuters Messaging: alison.leung.reuters.com@reuters.net))

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