HK Hot Stocks: Lenovo jumps, dry bulk shippers drop

HONG KONG, Jan 15 (Reuters) - Here are some stocks on the move in Hong Kong on Tuesday:

As of 0223 GMT, the blue-chip Hang Seng Index .HSI was up 0.7 percent, boosted by Wall Street gains.

The index opened up 1 percent at 26,728.93.

STOCKS ON THE MOVE:

* Mainland PC maker Lenovo Group (0992.HK) jumped nearly 7 percent to HK$5.55, tracking gains in its US-traded peers after IBM (IBM.N) posted better-than-expected preliminary quarterly earnings.

* Dry bulk shippers fell, tracking the Baltic Dry Index .BADI, an indicator for commodity-freight rates, which was sharply lower for the third straight day.

Pacific Basin (2343.HK) slumped 4.5 percent to HK$9.49 and China Shipping Development (1138.HK) dropped 2.4 percent to HK$22.55.

* Esprit Holdings Ltd (0330.HK) rose 3.7 percent to HK$94.35 after its recent slump. A disclosure with the Hong Kong Stock Exchange showed Capital Research Management bought 2.37 million shares at HK$108.313 earlier in the month.

* CITIC Bank (0998.HK), a medium-sized commercial bank, jumped 3.4 percent to HK$5.14 after it said its estimated net profit more than doubled last year, helped by rapid loan growth and improved interest rate margins [ID:nPEK200720].

China Everbright Ltd (0165.HK), which owns a stake in mid-sized lender China Everbright Bank, climbed 1.7 percent to HK$26.40.

(Reporting by Rita Chang; Editing by Nick Macfie)