2 Min Read
HONG KONG, April 24 (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.
-- The annual general meeting of Hong Kong Exchanges and Clearing granted a general mandate for the exchange to issue new shares equal to 10 percent of its total issued share capital within the next 12 months, up from the previous 5 percent mandate.
-- Shenzhen-listed diesel engine maker Weichai Power Co said net profit for the first quarter was down 44.6 percent from a year earlier to 1.03 billion yuan ($163.3 million).
-- Cathay Pacific Airways Ltd Chief Executive John Slosar said in a newsletter for employees that the company was facing a very challenging year and may have to park aircraft and reduce flights if weakening demand and high fuel costs persist.
-- Chinese sports brand 361 Degrees International Ltd said its same-store sales growth for the first quarter in 2012 averaged 6.9 percent because of higher prices achieved for its current range. Volumes remained low.
-- Luggage maker Samsonite International S.A. said its net sales for the first quarter of 2012 increased 15.1 percent year-on-year to $403.7 million from $350.8 million.
For Chinese newspapers, see...............
For Taiwan newspapers, see................ ($1 = 6.3088 Chinese yuan) (Reporting by Twinnie Siu; Editing by Eric Meijer)