July 16, 2012 / 2:38 AM / 5 years ago

PRESS DIGEST - Hong Kong - July 16

HONG KONG, July 16 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- China Investment Corp (CIC), the mainland's $300 billion sovereign wealth fund, is considering an investment worth at least $2 billion in Alibaba Group to fund a share buy-back deal with the U.S. internet company Yahoo, people familiar with the situation said.

-- The Securities and Futures Commission is in the process of approving three more yuan-denominated exchange traded funds (ETFs) that will allow Hong Kong investors to bet on mainland stocks.

-- Dynam Japan, the country's No 1 pachinko operator by number of halls, plans to build 75 new pachinko halls in the next three years, mainly in rural areas, said chairman and chief executive Yoji Sato. Dynam is expected to begin its public offering in Hong Kong next week.

HONG KONG ECONOMIC JOURNAL

-- China's Zhuhai city's attempt last Friday to relax curbs on the property market lasted about five hours and was halted, mainland media reports said. The reports gave no reason why the attempt was stopped.

HONG KONG ECONOMIC TIMES

-- At least 11 people were reported dead in Guizhou province as a heavy storm hit southern China. The storm has affected about 2 million people.

TA KUNG PAO

-- Chinese automaker BYD Co said it will pay dividends each year of no less than 10 percent of the annual distributable profit until 2014.

For Chinese newspapers, see...............

Reporting by Twinnie Siu; Editing by Jijo Jacob

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