PRESS DIGEST - Hong Kong - Jan 2

HONG KONG Tue Jan 1, 2013 8:25pm EST

HONG KONG Jan 2 (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

-- An investigation into the setting of Hong Kong's interbank interest rates is unlikely to reveal any misconduct that had a major social impact because rates have been low for years, says the Hong Kong Association of Banks. (link.reuters.com/hub94t)

-- After a sharp fall in rentals in the core Central district, the worst for Hong Kong's office leasing market is over, property consultants say. (link.reuters.com/jub94t)

-- Stable demand from local luxury home buyers in Beijing may continue to help the capital city's top-end property market grow steadily this year despite the government's ongoing tightening measures. (link.reuters.com/kub94t)

HONG KONG ECONOMIC JOURNAL

-- Rent of the 10 largest housing estates by turnover increased by about 20 percent over 2012.

SING TAO DAILY

-- Evergrande Real Estate Group Ltd ranks No.1 in total area sold in the mainland property market in 2012, while China Vanke Co Ltd takes the lead in sales revenue.

-- Aluminum Corp of China bought a 23.66 percent stake in Ningxia Electric Power Group from Huadian Power International Corp Ltd for 1.36 billion yuan ($218.29 million).

THE STANDARD

-- Danish audio equipment maker Bang & Olufsen, in tandem with luxury goods distributor Sparkle Roll Group Ltd, is setting the stage to be seen and heard in the mainland. (link.reuters.com/pub94t)

For Chinese newspapers, see............... ($1 = 6.2303 Chinese yuan) (Reporting by Grace Li; Editing by Prateek Chatterjee)