PRESS DIGEST - Hong Kong - Sept 30

HONG KONG, Sept 30 (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

-- Far East Golden Resources Group (1188.HK), which is run by mainland fugitive Yang Rong, wants to raise US$7.86 billion from a private placement to make hybrid cars in the United States. Yang, who helped transform Brilliance China Automotive Holdings (1114.HK) from a stagnant state-owned factory into the top maker of mini-vans, fled China in late 2002 after being accused of economic crimes.

-- German chemical giant BASF BASF.DE plans to invest more than 1 billion euros ($1.46 billion) in Greater China and hire thousands of employees by 2013, expecting mainland sales to grow rapidly despite the clouded outlook for the global chemical market, said Martin Brudermueller, head of Asia-Pacific operations.

HONG KONG ECONOMIC TIMES

-- Three Chinese property companies received approval from the stock exchange for a Hong Kong listing, but Hengda Real Estate Group decided to postpone its plan amid a clouded IPO market. China South City (1668.HK) saw its shares plunge 30 percent from the offering price in the grey market, becoming the worst IPO in the unofficial market, according to market sources.

HONG KONG ECONOMIC JOURNAL

-- NWS Financial Management Service, a subsidiary of New World Development (0017.HK), bought HK$542 million worth of China Everbright International (0257.HK) shares as the company shifted its business focus to environmental protection, according to data from the stock exchange of Hong Kong.

SING TAO DAILY

-- Property Developer Agile Property (3383.HK) bought land in China's Shenyang city for 822 million yuan for residential and commercial development.

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