Hongqiao rises in Hong Kong debut as IPOs, market rebounds

* Aluminium producer rises 2.5 pct in first day

* Hongqiao priced IPO at bottom of proposed range

HONG KONG, March 24 (Reuters) - Aluminium producer China Hongqiao Group rose as much as 2.5 percent in its trading debut on Thursday, taking a boost from an upswing in the broader market and a rebound in recently-priced IPOs in Hong Kong.

Hongqiao's advance contrasts sharply with the first-day slumps of marble miner China Kingstone Mining Holdings last week and property developer Top Spring on Wednesday.

The gain comes as concerns over volatility in global markets weigh on demand for Asian stocks, prompting companies such as oil equipment manufacturer Hilong Holdings and mining company Resourcehouse to delay their Hong Kong offerings.

Hongqiao climbed to HK$7.36 in early afternoon trading and traded as high as HK$7.38, after pricing its initial public offering at the low end of a proposed range of HK$7.2 to HK$8.85. Kingstone was up 2.2 percent, while Top Spring gained 2.8 percent after a tumbling nearly 15 percent the previous session.

"Other recent IPOs are starting to do well only now, and Hongqiao will perform well as long as the Hang Seng is above the 23,000 level," said Mark To, Wing Fung Financial Group head of research.

The benchmark Hang Seng index rose 0.76 percent. (Reporting by Elzio Barreto and Clement Tan; Editing by Jonathan Hopfner)

* Hongqiao debut benefits from rebound in recent IPOs

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