HK Hot Stocks: Telecom plays leap on reorg talk

HONG KONG, Feb 18 (Reuters) - Here are some stocks on the move in Hong Kong on Monday:

As of 0242 GMT, the blue-chip Hang Seng Index .HSI was up .5 percent, taking cues from strong Asian markets.

The index opened up 0.8 percent at 24,344.27.

STOCKS ON THE MOVE:

* Telecom stocks dominate trade

Mainland Chinese telecom plays jumped amid talk of a special government meeting over the weekend on the industry's long awaited consolidation.

"We're just waiting for the rubber stamp by the MII (Ministry of Information Industry) and CSRC (China Securities Regulatory Commission)," said one trader who asked not to be named because he was not authorised to speak on the subject.

China Telecom (0728.HK: Quote, Profile, Research, Stock Buzz) was the most active stock as of 0241 GMT, up 4.7 percent to HK$6.49. The country's fixed-line provider is seen as a key beneficiary of an industry alignment because it would gain entry to the more lucrative wireless market.

China Mobile (0941.HK: Quote, Profile, Research, Stock Buzz), the second most active stock, underperformed with a 0.4 percent gain to HK$121. The industry reshuffling would benefit China Mobile the least because of rising competition.