January 25, 2011 / 2:22 AM / 7 years ago

PRESS DIGEST - Hong Kong - Jan 25

HONG KONG, Jan 25 (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

-- The median home in Hong Kong cost 11.4 times the median gross annual household income, according to a report by the U.S.-based consulting company Demographia. The survey examined housing affordability in six major areas, including the UK, United States, Australia, and also Hong Kong, during the third quarter of 2010.

HONG KONG ECONOMIC TIMES

-- China's largest privately owned aluminium hydroxide producer Hongqiao Group expected net profit to reach 4.1 billion yuan ($623 million) for last year, up more than 700 percent from a year earlier. The company will kick off its public subscription on Wednesday to raise up to HK$17.2 billion ($2.2 billion).

SING TAO DAILY

-- Chinese developer Greentown China Holdings Ltd (3900.HK) has acquired five pieces of land in China's Zhejiang province for a total of 6.68 billion yuan ($1.02 billion).

WEN WEI PO

-- Dell Inc <DELL.O > has signed a cooperation contract with the Hunan provincial government and said it would base its China operations office in Changsha.

TA KUNG PAO

-- Hong Kong Exchanges and Clearing Ltd (HKEx) (0388.HK) said it has received approval from the Securities and Futures Commission to extend the trading hours of its securities and derivatives markets in two phases as planned. The first phase will start on March 7, with the market operating from 9:30 am to 12 noon and then from 1:30 pm until 4 pm.

For Chinese newspapers, see...............[PRESS/CN]

For Taiwan newspapers, see.[PRESS/TW]

Reporting by Twinnie Siu; Editing by Ken Wills

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