HK shares fall more than 1 pct, led by China telcos

HONG KONG, Jan 6 (Reuters) - Hong Kong shares fell more than 1 percent in late Tuesday morning trade, pulling back from a three-day, 9 percent rally, as Chinese telecom stocks retreated sharply.

China Mobile (0941.HK) fell 3.2 percent to HK$82.25 while smaller rival China Unicom (0762.HK) dropped 5.2 percent. Both stocks rallied sharply in the last two sessiosn on hopes of an imminent issuance of 3G licences.

By 0414 GMT the Hang Seng Index .HSI was down 1.03 percent to 15,402.24 after opening 0.3 percent higher.

The China Enterprises Index of top locally listed mainland Chinese firms .HSCE fell 0.9 percent to 8,604.39.

(Reporting by Parvathy Ullatil; Editing by Kim Coghill)