PRESS DIGEST-Hong Kong - Nov 12
HONG KONG Nov 12 (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
-- Taobao and Tmall, the two main online retailing platforms of the Alibaba Group , smashed last year's combined record of 19.1 billion yuan in sales for the whole day in the first 13 hours of "double eleven" online festival in China on Monday. By 9.20 pm, the total exceeded 30 billion yuan ($4.93 billion). ()
-- Investment quota under the QFII scheme will jump to 10 percent of the mainland market's capitalisation in five years from 1.5 percent, says ChinaQFII, a Hong Kong firm that helps foreigners invest in the mainland. ()
-- YuanShengTai Dairy Farm has started a one-week bookbuilding campaign for its up to $500 million Hong Kong float due to positive sentiment for new shares. The Heilongjiang-based raw milk producer is issuing 1.22 billion shares in an indicative price range of HK$2.49 to HK$3.18 each. ()
-- Chief Executive Leung Chun-ying has promised to help seek land suitable for commercial and industrial projects after the number of places listed as vacant for such uses hit a five-year low in 2012. ()
-- Property developer Evergrande Real Estate is tapping into a bottled mineral water business that will be available at its 200 projects - including hotels, cinemas and clubhouses - across China. ()
HONG KONG ECONOMIC JOURNAL
-- Web and mobile phone game developer Boyaa Interactive International soared more than 30 percent in the grey market, while Huishang Bank was up 1 percent. Their formal trading will start on Tuesday.
HONG KONG ECONOMIC TIMES
-- China Cinda Asset Management is seen to issue 5.318 billion H-shares, raising up to $2 billion in a Hong Kong IPO expected to be launched later in November, according to the initial offering document.
MING PAO DAILY NEWS
-- Cheung Kong (Holdings), a property arm of tycoon Li Ka-shing, generated HK$4.46 billion ($575.23 million)from flat sales so far this year, achieving about 15 percent of its annual sales target of HK$30 billion.
-- Sports shoe maker Yue Yuen Industrial posted consolidated revenue of $658 million in October, up 12 percent from the same period last year.
SING TAO DAILY
-- China pharmaceutical distributor Sinopharm Group is in talks to buy hospitals as it aims to expand its scope of business and is hoping to strike a deal before the end of the year, according to Chairman Wei Yulin.
For Chinese newspapers, see...............
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