PRESS DIGEST - Hong Kong - April 23
HONG KONG, April 23
HONG KONG, April 23 (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
-- Outgoing HK Exchanges and Clearing chairman Ronald Arculli said the World Federation of Exchanges members would fight for international regulatory reform to safeguard the interests of traditional exchanges and investors. Arculli steps down from his position with the Hong Kong bourse on Monday but will remain chairman of the federation until October.
-- Analysts are divided over the outlook for Hong Kong's property developers under chief executive-elect Leung Chun-ying. Investment bank CLSA said last week that boosting property supply would erode investment returns offered by property shares but other analysts disagreed, arguing that under the new policy, land costs would fall and developers could maintain profit margins by selling more flats.
HONG KONG ECONOMIC TIMES
-- Chinese toll road operator Sichuan Expressway Co Ltd said its profit for the first quarter of 2012 rose 19.67 percent year on year to 325 million yuan with per share earnings amounting to 0.1064 yuan.
MING PAO DAILY NEWS
-- SRE Group Ltd said its unit, China New Town Development Co Ltd, has signed a strategic cooperation agreement with Beijing Small Town Development Fund For jointly developing small towns.
TA KUNG PAO
-- Regal Hotels International Holdings Ltd said it planned to buy back 38.88 million shares of the company in the next 90 days at a price of up to HK$3.8 per share for about HK$147 million.
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(Reporting by Sisi Tang and Donny Kwok; Editing by Nick Macfie)
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