August 13, 2014 / 2:03 AM / 3 years ago

PRESS DIGEST - Hong Kong - Aug 13

HONG KONG, Aug 13 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- The Hong Kong government has increased its monitoring of capital flows as finance officials and brokers warn that billions in "hot money" flowing into the city to bet on the stock market could leave just as quickly due to a poor economic outlook and fears of a U.S. interest rate rise, according to Secretary for Financial Services Chan Ka-keung. (bit.ly/Y2ksnj)

-- Li Ka-shing is set to sell Shanghai property assets worth almost HK$6 billion ($774 million), bringing the value of disposals made by him on the mainland and in Hong Kong since August last year to about HK$25 billion. (bit.ly/1rom431)

-- Two hours of meetings between officials from the Shanghai Stock Exchange and Hong Kong brokers ended without any significant breakthrough on Tuesday, according to people who took part in the closed-door discussions. Crucial issues of trade settlement and tax rules remain outstanding, Hong Kong brokers said. (bit.ly/1ot6lCm)

THE STANDARD

-- Hong Kong Monetary Authority chief Norman Chan Tak-lam reckons that some of the $9 billion in capital inflows since July 22 has gone into local and mainland stocks, and he does not rule out that it is connected to preparations for the Shanghai-Hong Kong Stock Connect to be launched in October. (bit.ly/Xg1RE1)

-- Brokers expect second-quarter net profit of Tencent Holdings to have risen 50 percent from a year back to 5.5 billion yuan ($893.2 million). (bit.ly/Xg2HAU)

-- Beijing Capital Land will step up overseas expansion with an eye on countries with high population growth and potential for sales of its property projects preferred by Chinese investors, such as the United States and Britain, according to president Tang Jun. (bit.ly/1q7jxse)

HONG KONG ECONOMIC JOURNAL

-- Wheelock and Co Ltd generated HK$10.1 billion from flat sales in the first half, the first developer to achieve its full-year sales target. Managing director Douglas Woo expects Hong Kong property prices to remain stable in the second half of the year.

HONG KONG ECONOMIC TIMES

-- Industrial towns planner and developer China VAST Industrial Urban Development Co Ltd plans to raise up to HK$1.23 billion ($158.7 million) in its initial public offering in Hong Kong.

-- Hong Kong's population was estimated at 7.23 million in mid-2014, an increase of 47,300 or 0.7 percent from the same period in 2013, according to the Census and Statistics Department.

For Chinese newspapers, see............... (1 US dollar = 7.7512 Hong Kong dollar) (1 US dollar = 6.1575 Chinese yuan) (Reporting by Donny Kwok; Editing by Sunil Nair)

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