HK Hot Stocks: Pacific Basin slides, insurers up

HONG KONG, Dec 4 (Reuters) - Here are some stocks on the move in Hong Kong on Tuesday:

The blue-chip Hang Seng Index .HSI was up 0.2 percent by 0215 GMT, having opened down 0.4 percent at 28,544.18.

STOCKS ON THE MOVE:

* Dry bulk shipper Pacific Basin (2343.HK: Quote, Profile, Research, Stock Buzz) slumped 4.5 percent to HK$14.5 in heavy trade after saying it planned to issue US$350 million worth of bonds that are convertible into company shares at HK$19.28 per share, to fund acquisitions. here

* China Resources Land (1109.HK: Quote, Profile, Research, Stock Buzz) surged 5.7 percent to HK$20 after saying it would buy property interests from its parent for US$582 million, in a deal to be settled by an issue of 269.09 million in new shares. here

* Ping An Insurance (2318.HK: Quote, Profile, Research, Stock Buzz), China's second biggest life insurer, gained 2.3 percent to HK$89.05. It said on Tuesday it had obtained Chinese government approval to invest up to 15 percent of its assets overseas [ID:nSHA25969].

Other mainland insurers also rose.

PICC Property and Casualty Ltd (2328.HK: Quote, Profile, Research, Stock Buzz) jumped 1.3 percent to HK$12.76 and China Life (2628.HK: Quote, Profile, Research, Stock Buzz) rose nearly 1 percent to HK$43.26.

* China Coal (1898.HK: Quote, Profile, Research, Stock Buzz) slipped 1.6 percent to HK$24.05. The mainland coal producer said there was no time table for issuance of A shares in mainland stock markets, denying a media report it planned to launch a 22 billion yuan ($2.97 billion) share offer before the end of the year.