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PRESS DIGEST - Hong Kong - March 14
March 14, 2012 / 1:47 AM / 6 years ago

PRESS DIGEST - Hong Kong - March 14

HONG KONG, March 14 (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.


-- The Hong Kong Monetary Authority has teamed up with Malaysia’s central bank and Euroclear Bank to launch a pilot platform for cross-border bond investment and settlement to boost Asia’s bond markets. The platform, which will be launched on March 30, will be expanded in the second quarter when the HKMA links up with JPMorgan and Euroclear to provide cross-border repurchase services.

-- Sportswear and equipment retailer Peak Sports Products Co Ltd, which reported that 2011 net profit fell 5.4 percent to 777.7 million yuan ($122.92 million), said it plans to cut about 800 mainland stores this year as it battles slowing sales growth that has sliced its bottom line.


-- An HSBC Holdings Plc spokesman said the bank would not exit from any Asia markets, in response to a report that the bank was planning to scale back operations in the region.


-- Chinese department store chain operator Golden Eagle Retail Group Ltd has targeted 15 percent same-store sales growth this year, and aims for gross sales proceeds to grow 25 percent, said Chairman Roger Wang.


-- Chinese property developer Fantasia Holding Group Co Ltd said net profit totaled 1.15 billion yuan, up 42.9 percent from a year earlier. The company set 2012 sales target of 7.2 billion yuan, compared with 6 billion yuan last year.

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

For Taiwan newspapers, see................ ($1 = 6.3270 Chinese yuan) (Reporting by Twinnie Siu; Editing by Chris Lewis)

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