PRESS DIGEST- Hong Kong - Aug 27

HONG KONG Tue Aug 27, 2013 7:38am IST

Stocks

   

HONG KONG Aug 27 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- Hengqin, an island in southern Zhuhai, will soon issue 1.5 billion yuan ($245.00 million) of dim sum bonds in Hong Kong and plans to float next year a portfolio of infrastructure and property projects on the Hong Kong stock exchange for about 2 billion yuan, said Niu Jing, the director of the administrative committee of the Hengqin New Area. (link.reuters.com/nam62v)

-- Chinese carmaker BYD Co Ltd's Chairman Wang Chuanfu said third-quarter profit would be affected by a seasonal downturn in car sales, but was confident that car sales would rebound in the fourth quarter, the industry's peak season, and government subsidies would drive growth. (link.reuters.com/pam62v)

-- MTR Corp Ltd is expected to see record traffic growth from 2015 when five of its new rail projects, including a cross-border link that connects Hong Kong to the national high-speed rail network, come on stream. (link.reuters.com/qam62v)

HONG KONG ECONOMIC JOURNAL

-- Nine banks in Guangzhou city have suspended offering mortgage loans to home buyers, mainly due to their limited quota for lending this year, quoted mainland media reports.

HONG KONG ECONOMIC TIMES

-- Fast Retailing Co Ltd, owner of Japanese clothing retailer Uniqlo, plans to list in Hong Kong in the form of depository receipts early next year.

THE STANDARD

-- Chinese developer Greentown China Holdings Ltd said it will focus more on homes for the elderly and tourism properties. Its first retirement home is being built in Wuzhen, near Hangzhou in Zhejiang province. (link.reuters.com/ram62v)

ORIENTAL DAILY

-- Footwear retailer Belle International Holdings Ltd still needs a lot of effort in the second half to meet its same store sales growth target of mid-single digit growth, said Chief Executive Officer Sheng Baijiao.

SING TAO DAILY

-- Xia Haijun, chief executive of Evergrande Real Estate Group Ltd said it is the right time to boost land bank in top-tier cities, adding that the company has 42 billion yuan of cash on hand.

For Chinese newspapers, see............... ($1 = 6.1225 Chinese yuan) (Reporting by Twinnie Siu; Editing by Supriya Kurane)