HK Hot Stocks: China Mobile leads telco plays down

HONG KONG, Oct 22 (Reuters) - Here are some stocks on the move in Hong Kong on Monday:

As of 0232 GMT, the blue-chip Hang Seng Index .HSI was down 2.8 percent, tracking a sell-off in global equities.

The index opened down 3.8 percent at 28,336.97.

STOCKS ON THE MOVE:

* Mainland telecom shares underperform on talk that 3G licences may not be issued before the 2008 summer Olympics in Beijing.

China Mobile (0941.HK) fell 3.5 percent to HK$142.80 and China Telecom (0728.HK) dropped 5 percent to HK$6.46.

China Netcom (0906.HK) tumbled 4.8 percent to HK$24.70 and China Unicom (0762.HK) slid 4.2 percent to HK$15.40.

* Li & Fung (0494.HK) dropped 4.6 percent to HK$30.90 amid worries about the weakening U.S. economy, the trading firm's top market.