HK Hot Stocks: Pacific Basin, Hutch Telecom gain

HONG KONG, Nov 2 (Reuters) - Here are some stocks on the move in Hong Kong on Friday:

As of 0225 GMT, the blue-chip Hang Seng Index .HSI was down 2.3 percent, tracking sharp losses on Wall Street.

The index opened down nearly 3 percent at 30,580.07.

STOCKS ON THE MOVE:

* Broad sell-off hits recent high-flyers in the banking sector.

Bank of Communications (3328.HK: Quote, Profile, Research, Stock Buzz) dropped 4 percent to HK$13 and China Merchants Bank (3968.HK: Quote, Profile, Research, Stock Buzz) tumbled 4.2 percent to HK$37.45.

* Hutchison Telecommunications Int'l Ltd (2332.HK: Quote, Profile, Research, Stock Buzz) rose 2.3 percent to HK$11.4, supported by speculation that its parent, Hong Kong conglomerate Hutchison Whampoa (0013.HK: Quote, Profile, Research, Stock Buzz), would take the emerging markets telecom play private.

* Bulk shipper Pacific Basin (2343.HK: Quote, Profile, Research, Stock Buzz) climbed 2.2 percent to HK$17.56 as investors cheered its third-quarter trading report amid a soaring dry-bulk freight market. here