PRESS DIGEST - Hong Kong - Nov 4

HONG KONG, Nov 4 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy. SOUTH CHINA MORNING POST

-- Fewer late or default payments were reported by Hong Kong businesses in the third quarter as market conditions and consumer demand improved gradually, according to a survey conducted by credit insurer Coface.

-- Listing hopeful Fantasia Holdings, a Shenzhen-based developer aiming to raise US$400 million in a Hong Kong IPO, has secured Joseph Lau, chairman of Chinese Estates Holdings (0127.HK), as a cornerstone investor, a source familiar with the deal said. -- China appears to be toning down its demands ahead of key iron ore talks to agree on a benchmark price, with miners and the China Iron and Steel Association expecting to see a moderate rise in the price of iron ore next year, contrasting with comments at an industry conference last month demanding a cut in the benchmark price agreed with main suppliers BHP Billiton (BHP.AX), Rio Tinto (RIO.AX) and Vale (VALE5.SA). HONG KONG ECONOMIC JOURNAL

-- Listing candidate China Minsheng Banking Corp is set to pick six cornerstone investors among 13 interested parties, including China Investment Corporation [CIC.UL], Ping An Insurance (2318.HK), Zijing Mining (2899.HK) and China Overseas Land (0688.HK), to subscribe to up to HK$6.24 billion (US$805 million) worth of the bank's shares in its Hong Kong initial public offering, according to industry sources.

HONG KONG ECONOMIC TIMES

-- China Mingsheng Banking Corp intends to price shares in its Hong Kong IPO at HK$9-10 each, representing a price-to-book multiple of 1.78-1.98 times its book value next year, said institutional investors after attended a roadshow conducted by the bank.

-- Dongfeng Motor Group (0489.HK) said net profit for the first nine months of the year totalled 4.63 billion yuan ($678.2 million) based on Chinese accounting standards. It gave no comparison figures.

WEN WEI PO

-- China Overseas Land (0688.HK) sold 4.3 million square meters of property in the first 10 months of this year, generating 38 billion yuan ($5.57 billion) in sales revenue and achieving its full-year sales target earlier than planned, said chairman Kong Qing-ping.

TA KUNG PAO

-- Hong Kong confirmed the first H9 infection this year in the territory after a 47-year-old woman from across the border in Shenzhen with flu symptoms was admitted to a Hong Kong hospital on Oct. 28. The patient is quarantined and in stable condition.

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