HK Hot Stocks: Finance stocks, Chalco slide

HONG KONG, Feb 6 (Reuters) - Here are some stocks on the move in Hong Kong on Wednesday:

As of 0231 GMT, the blue-chip Hang Seng Index .HSI was down 5.40 percent, tracking sharp regional losses after weak U.S. services sector data stoked concerns over the health of the global economy. The index opened down 5.44 percent at 23,458.15.

The China Enterprises index of H-shares .HSCE, or Hong Kong-listed shares in mainland companies, fell 7.11 percent.

STOCKS ON THE MOVE:

* Concerns over the health of the U.S. economy and further impact of from the sub-prime crisis pressured finance and import-export related stocks, with Li & Fung (0494.HK) sliding more than 8 percent to HK$26.75 and Esprit (0330.HK) losing 8.27 percent to HK$94.3.

Chinese insurers Ping An (2318.HK) fell 10.23 percent to HK$55.3, China Life (2628.HK) slid 8 percent to HK$29.35, while Bank of Communications (3328.HK) plunged 8.73 to HK$9.1. China Construction Bank (0939.HK) lost 6.25 percent to HK$5.7.

* The Hong Kong-listed shares of Aluminum Corp of China Ltd, or Chalco (2600.HK), fell 9.8 percent to HK$11.96 after BHP Billiton (BHP.AX) made a bid for Rio Tinto (RIO.AX). Chalco's (601600.SS) parent company Chinalco has taken a 9 percent stake in Rio shares, together with its partner Alcoa Inc (AA.N), and has said it reserves the right to react to a bid for Rio by BHP by making an offer of its own for the firm. [ID:nHKF078890]

* Bank of East Asia (0023.HK) slid 5.34 percent after news that its chairman and CEO David Li, former Dow Jones board member, will pay $8.1 million to settle civil charges of insider trading ahead of a buyout bid from News Corp NWSa.N last year that sent Dow Jones shares soaring. [ID:nN05205660]

* COSCO Pacific Ltd (1199.HK) shares fell 5.76 percent to HK$16.02 after Goldman Sachs cut its target price for COSCO Pacific, an arm of China's largest shipping conglomerate, to HK$19 from HK$27, saying it forecasts worse-than-expected throughput growth this year. [ID:nHKG212236]

* Ports operator China Merchants Holdings (0144.HK) lost 6.84 percent to HK$39.50 after Goldman Sachs cut the Chinese ports operator to sell from neutral on valuation concerns and reduced its 12-month target price to HK$35.6 from HK$49. [ID:nHKG214020] (Reporting by Donny Kwok; Editing by Anne Marie Roantree)