PRESS DIGEST - Hong Kong - March 21
HONG KONG, March 21
HONG KONG, March 21 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- Hong Kong Exchanges and Clearing said twenty-six series of stock options will have their fees reduced by up to 83 percent from May 2, as part of a range of measures to promote stock options and in a bid to boost turnover. ()
-- Baidu Inc, China's largest search engine firm, is set to work with a local online retailer, Yihaodian.com, backed by American supermarket giant Wal-Mart to tap the country's fast-growing e-commerce sector. ()
-- Nanjing Tanker and dry bulk operator CSC Phoenix, two listed offshoots of China's largest transport group, face suspension from mainland stock exchanges if they post further losses, said Zhao Huxiang, Chairman of Sinotrans Limited. ()
-- China Telecom Corp will not take part in the development of the mainland's homegrown fourth-generation mobile network, but intends to rent the TD-LTE network from larger rival China Mobile Ltd, said Chairman Wang Xiao-chu. ()
HONG KONG ECONOMIC JOURNAL
-- Bank of China (Hong Kong), the territory's largest mortgage lender, has followed some rivals such as HSBC, Standard Chartered, Hang Seng Bank and the Bank of East Asia in raising the mortgage lending rate by 0.25 percentage point.
MING PAO DAILY NEWS
-- Guangzhou R&F Properties Co Ltd raised its annual sales target for this year by 23 percent from 2012 to 42 billion yuan ($6.76 billion).
-- Hopewell Holdings aims to raise $800 million by spinning off its Hong Kong properties, according to market sources.
--- Luxury handbag retailer Milan Station Holdings Ltd said it expected to record a loss for 2012 as compared to a profit a year ago due to continuing slowdown in the retail market for luxury handbags and weakened consumption sentiment during the year.
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