PRESS DIGEST - Hong Kong - Aug 8

HONG KONG Thu Aug 7, 2014 9:50pm EDT

HONG KONG Aug 8 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- Beijing's "one country, two systems" policy on Hong Kong will not change even if universal suffrage cannot be achieved in the 2017 chief executive election, according to the central government's top representative in the city, Zhang Xiaoming. (bit.ly/1kpZmcs)

-- Shanghai-based contract chipmaker Semiconductor Manufacturing International Corp, which posted its ninth consecutive profitable quarter, expects to reap the rewards of the central government's new policy to promote its industry. (bit.ly/1ohIe9C)

THE STANDARD

-- Hong Kong home prices hit a record high in June, rising 1 percent from their previous peak in May, with most of the transactions over the past few months involving small and medium-sized units, according to the Rating and Valuation Department. (bit.ly/1u3u1Q4)

-- Bright Smart Securities and Haitong Securities International said the Shanghai-Hong Kong Stock Connect would bring significant profit to brokerages, but Quam Ltd said more time will be needed to see the benefits. (bit.ly/1ov8tDM)

-- Nagacorp, operator of the NagaWorld casino hotel in Cambodia, said its $350 million gaming and resort project in Russia will not be operational before 2018. It said the number of mainland visitors to Cambodia rose nearly 20 percent on-year in the first five months to more than 240,000. (bit.ly/1pZTKlI)

HONG KONG ECONOMIC JOURNAL

-- Cathay Pacific Airways said it has made a strategic investment in U.S. biofuel developer Fulcrum BioEnergy Inc and the carrier is in talks with the U.S. firm to secure supply of 375 million gallons of fuel over a period of 10 years.

For Chinese newspapers, see............... (Reporting by Donny Kwok; Editing by Subhranshu Sahu)

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