PRESS DIGEST - Hong Kong - Jan 29

HONG KONG Mon Jan 28, 2013 9:00pm EST

HONG KONG Jan 29 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- The annual grade A office occupancy costs in Hong Kong dropped 12 percent year on year to $22,190 per workstation in 2012, the second most expensive in the world, according to property consultancy DTZ, while London's West End is the world's most expensive place to lease an office. (link.reuters.com/ces55t)

-- China Metal Recycling (Holdings) Ltd, which claims to be the largest scrap metal recycling operator in China, has denied allegations of fraud made by American short-seller Glaucus Research Group. (link.reuters.com/des55t)

-- The Securities and Futures Commission expects to remain in the red this year, with a total deficit of HK$435.16 million ($56.09 million) caused by lower fee income and rising staff costs, the second consecutive year the regulator will lose money. (link.reuters.com/fes55t)

HONG KONG ECONOMIC TIMES

-- The Independent Commission Against Corruption (ICAC) has launched a probe into election bribery allegations against Chief Executive Leung Chun-ying.

HONG KONG ECONOMIC JOURNAL

-- Macau casino operator Sands China Ltd has received official approval for adding 200 live gaming tables, chief executive Edward Tracy said, but did not specify which Sands casinos the tables would be allocated.

THE STANDARD

-- CME Group, a subsidiary of the Chicago Mercantile Exchange, will launch offshore yuan futures in Hong Kong next month. The CNH futures will offer contracts of up to three years worth either $100,000 or $10,000. (link.reuters.com/ges55t)

MING PAO DAILY NEWS

-- The initial public offering of watchmaker Time Watch Investments Ltd was oversubscribed 252 times, locking up HK$20.55 million in margin orders, according to 10 local brokerages.

For Chinese newspapers, see............... ($1 = 7.7579 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Sunil Nair)

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