PRESS DIGEST - Hong Kong - May 19

HONG KONG, May 19 (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 latest official jobless rate will be announced today. Among the 18 districts in Hong Kong, only the Central-Western district, a higher income district, recorded increased unemployment last year.

APPLE DAILY

-- The Hong Kong International Airport is drawing up a 10-year plan to invest HK$10 billion on the expansion of facilities and increasing runway capacity by 20 percent.

-- Mainland enterprises have lost billions in their investments. Figures on listed companies show 125 companies in the Shanghai and Shenzhen exchanges have incurred losses on investment returns of more than 54.1 billion yuan combined in the period from January to April.

MING PAO DAILY NEWS

-- Vice president of developer Sun Hung Kai Properties (0016.HK) Thomas Kwok has responded to questions on why the family want chairman Walter Kwok to be ousted after a family feud. He said the decision was painful and it was for the protection of shareholders' interests and the good of the company.

SING TAO DAILY

-- Experts say some 40 percent of Mandatory Provident Fund holders have not adjusted their portfolios since the scheme was launched eight years ago.

SOUTH CHINA MORNING POST

-- Taiwan carrier China Airlines (2610.TW) says it will cut scheduled Hong Kong-Taiwan passenger flights by about 20 percent due to increases planned in mainland services once direct weekend charter flights between Taiwan and the mainland begin on July 4.

-- Hong Kong could see its first Islamic bond issued in the fourth quarter if credit market conditions improve, sources said.

THE STANDARD

-- The number of general insurance companies in Hong Kong is expected to fall dramatically in the next decade because of the industry's ongoing consolidation.

HONG KONG ECONOMIC JOURNAL

-- Hong Kong will lower flags at half staff from today for the victims of last Mondays Sichuan earthquake.

SING PAO

-- Premier Wen Jiabao has returned to the capital from Sichuan to direct the relief effort. The country will begin three days of mourning today for the victims of the massive earthquake.

WEN WEI PO

-- About 125 new flats were sold over the weekend. Sino Land (0083.HK) says it has sold about 1,000 units in its latest project in the first nine days.

TA KUNG PAO

-- Securities circles expect the Hong Kong bourse to keep fluctuating in the short term, and investors may have to wait until July for the market direction to become more apparent.

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