PRESS DIGEST - Hong Kong - June 2

HONG KONG, June 2 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

HONG KONG ECONOMIC TIMES

-- The real estate industry is positive about the secondary market in the second half of the year as transactions are on the rise, with genuine users leading the market.

APPLE DAILY

-- A survey by an aviation workers' union has found that nearly 60 percent of the workers in freight loading have suffered injuries at work while having to move heavy goods manually.

MING PAO DAILY NEWS

-- Sources say China Telecom (0728.HK) and China Unicom (0762.HK) reached an agreement for the former to acquire the CDMA network from the latter with a price higher than the 100 billion yuan ($14.4 billion) predicted. A public announcement is expected today and China Telecom may resume share trading on Tuesday.

SING TAO DAILY

-- A town house built by Sun Hung Kai Properties (0016.HK) at The Peak has been sold for HK$285 million -- or HK$57,000 per sq ft, which is a record for Hong Kong and Asia. It was a unit in the prime estate Severn 8, where only one unit was left for sale.

SOUTH CHINA MORNING POST

-- The sale of the 75 per cent stake in Shaw Brothers (Hong Kong) 0080.HK owned by chairman Sir Run Run Shaw has been put on hold as front-runner Country Garden Holdings (2007.HK) chairman Yeung Kwok-keung's offer price fell short of Sir Run Run's target of at least HK$10 billion, sources said.

-- The government is reviewing plans to build flats above two MTR stations in response to complaints they would create a "wall effect", blocking air flow and sunlight for nearby residents. Each time it delays a decision, the chances of making significant changes grow smaller.

THE STANDARD

-- Cathay Pacific Airways (0293.HK) has ratcheted up its recruitment drive for pilots and its cadet scheme to help alleviate an estimated worldwide shortage of 3,600 pilots a year amid the soaring global aviation industry. The Hong Kong-based airline plans to hire about 1,860 aircrew staff this year -- including 270 pilots -- to handle its 50 extra aircraft over the next five years.

-- Unusual share price movements last Friday during the extended auction period were purely a combination of MSCI rebalancing effects and market underestimation, the local bourse said, rejecting talk of market manipulation.

HONG KONG ECONOMIC JOURNAL

-- Hot pot chain Little Sheep is set to launch its IPO this Thursday with a target to raise HK$462 million. The company said capital spending this year would reach 200 million yuan.

SING PAO

-- The Buildings Department is considering whether to revise building codes in Hong Kong to improve strength of structures to withstand a possible earthquake in Hong Kong. Experts say the chance of a strong magnitude earthquake hitting Hong Kong is low.

TA KUNG PAO

-- Average daily turnover in the Hong Kong bourse fell 11 percent in May compared with a month ago. The average turnover for a trading day last month was HK$76.3 billion. Analysts say individual retail investors are less inclined to enter the market. Some with paper losses are waiting on the sidelines.

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