PRESS DIGEST - Hong Kong - April 16

HONG KONG, April 16 (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.

HONG KONG ECONOMIC TIMES

-- Citibank expects the level of yuan deposits in the Hong Kong banking system to reach 100 billion by the end of this year.

-- Some investors of derivative product 'Accumulator' have submitted complaints against such contracts to the Securities and Futures Commission with support from political party members. More than 10 cases involved investments topping HK$1 billion.

APPLE DAILY

-- Bank of East Asia (0023.HK) is expected to launch next week its one-stop yuan deposit service, allowing Hong Kong customers to open mainland yuan accounts here.

MING PAO DAILY NEWS

-- Coffee chain Starbucks, under the operation of Maxim's group, opened its 100th outlet in Hong Kong yesterday after the chian arrived in the territory eight years ago.

SING TAO DAILY

-- A think tank has urged the exchange operator to improve the public listing mechanism in order to attract cross-border listings by overseas firms, or Hong Kong would be left behind by competitors in the market.

SOUTH CHINA MORNING POST

-- Oasis Hong Kong Airlines is in urgent talks with about five " really serious" investors about rescuing the insolvent airline or buying its assets, according to Edward Middleton, head of restructuring services at the airline's provisional liquidator KPMG.

-- The operator of Tokyo Disneyland is considering expanding into Southeast Asia. But it did not specify where or when this new theme park would be built.

THE STANDARD

-- Some minority shareholders in Pacific Century Premium Developments (0432.HK) are still holding out hope that PCCW (0008.HK) will raise its offer price for the proposed privatisation, according to a market source.

HONG KONG ECONOMIC JOURNAL

-- China Merchants Holdings (International) beat market expectations by reporting a 39.6 percent on year rise in profit attributable to shareholders to HK$3.55 billion.

SING PAO

-- Hong Kong supermarket chains have increased prices of more than half of all the items on shelves during the past year, according to a study by the Consumer Council. Cooking oil and rice are 15 to 20 percent more expensive and certain frozen food items were double the prices at corner stores. The council compared 200 items from three major chains.

TA KUNG PAO

-- HSBC believes Asian equity markets will continue to be bearish at least to the end of the year, with the Hang Seng Index at the target 26,000-point level.

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