PRESS DIGEST - Hong Kong - April 8
HONG KONG, April 8
HONG KONG, April 8 (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
-- About three in five Hongkongers will not have built a retirement nest egg fit for funding their desired lifestyles by the time they stop working, a survey shows. (link.reuters.com/ber38v)
-- The latest version of the "through train" scheme - Beijing's plan to let mainlanders trade directly in Hong Kong stocks - is pulling into the station. But unlike the last proposal in 2007, which would have benefited local brokers, this year's version seems to benefit mainland brokers more. (link.reuters.com/cer38v)
-- More mainland tourists are buying insurance in Hong Kong - spending HK$15 billion ($1.93 billion) last year - a trend industry insiders fear could lead to complaints if sales are not handled carefully. Mainland tourists' share of new life insurance sold in the city grew to 16 percent last year from 13 percent in 2012. (link.reuters.com/der38v)
-- HSBC Hong Kong is set to spark a fresh war for yuan deposits by offering an annualized yield of 3.8 percent for one-month time deposits - the highest in the SAR. (link.reuters.com/her38v)
-- About three out of five people are opposed to Occupy Central, according to a survey commissioned by the Democratic Alliance for the Betterment and Progress of Hong Kong. Of 1,005 citizens surveyed in March, 65 percent did not support the movement in fighting for universal suffrage. (link.reuters.com/jer38v)
-- The Hong Kong home market cooled further in February when prices slipped to an eight-month low on uncertainties about future interest-rate hikes. (link.reuters.com/ker38v)
HONG KONG ECONOMIC JOURNAL
-- China Galaxy Securities Co Ltd said it has received approval from the Securities Association of China to go ahead with a pilot internet securities business.
-- Prince Frog International Holdings Ltd has proposed changing its name to China Child Care Corporation Ltd to reflect its corporate strategy of providing diversified brand offerings of babies' and children's personal care products.
-- Kingdee International Software Group Co Ltd plans to acquire mobile internet and innovation and technology companies in the next five years to strengthen its Cloud hub and Bizchat enterprise communication platform, according to chief executive officer Xu Shaochun.
HONG KONG ECONOMIC TIMES
-- Tracking softer property prices, the rental index for private residential flats in Hong Kong fell 1.6 percent in the first three months of this year to 154.7 points, a level equivalent to the middle of last year, of which rent for luxury homes fell to the lowest in 18 months, according to government data.
-- China Vanke has submitted a bid for the first time for a Kowloon redevelopment project held by Urban Renewal Authority as the mainland developer aims to expand its reach and look for opportunities in the city, according to a senior executive.
For Chinese newspapers, see............... ($1 = 7.7551 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Sunil Nair)
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