PRESS DIGEST - Hong Kong - Oct 24

HONG KONG, Oct. 24 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

HONG KONG ECONOMIC TIMES

-- The government is pressing banks to buy minibonds back from their customers. DBS Bank has reached settlements with its customers and other banks are urged to follow suit.

-- Hong Kong property values are expected to fall 35 percent in two years, according to the latest outlook issued by investment banks.

APPLE DAILY

-- HKEx (0388.HK) says it will request listed companies to reveal their disclosure of derivatives investment holdings.

MING PAO DAILY NEWS

-- Goldman Sachs' plan to lay off about 3,000 employees worldwide is expected to affect its Hong Kong work force. A local spokesman declined to comment.

SING TAO DAILY

-- The Hong Kong government is adding measures to help SMEs face the tough business climate as credit tightens. These measures include additional insurance for exporters with faster approval and better risk assessment service.

SOUTH CHINA MORNING POST

-- Hopewell Holdings (0054.HK) and subsidiary Hopewell Highway Infrastructure have proposed special dividends totalling HK$5.42 billion after bowing out of financing the proposed Hong Kong-Macau-Zhuhai bridge.

-- More than 100 workers sought assistance from the Labour Department after they lost their jobs as restaurants closed. More restaurants are expected to close amid the economic downturn.

THE STANDARD

-- The government appointed a 19-strong board to oversee the West Kowloon cultural development, 15 of whom have no direct connection with property developers.

TA KUNG PAO

-- Major developer Sun Hung Kai Properties (0016.HK), reacting to reports, said the company did not make any investment in accumulator products. It only participated in hedging with a small amount of interest rate and currency swap contracts.

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