PRESS DIGEST - Hong Kong - June 3
HONG KONG, June 3 (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.
HONG KONG ECONOMIC TIMES
-- Singapore Airlines (SIAL.SI) said it won't feel disappointed even if its stake buy into China Eastern Airlines (0670.HK) sees no progress before the August deadline.
APPLE DAILY
-- HSBC (HSBA.L) (0005.HK) said its total yuan deposits rose 30 percent in April but the growth slowed to just 3 percent in May after the exchange price spread was increased in the month.
MING PAO DAILY NEWS
-- The initial public offering of shares in Little Sheep hotpot chain has received a huge response in a relatively cold climate for new stocks. The offering was oversubscribed on the first day with more than HK$330 million in margin financing subscriptions.
SING TAO DAILY
-- Stock exchange operator HKEx (0388.HK) said it would not abolish the newly introduced auction system to determine the closing price of stocks, although it had created much volatility. However, the mechanism would be reviewed, according to HKEx chief Paul Chow.
SOUTH CHINA MORNING POST
-- The Hong Kong's securities watchdog has approved a new Industrial and Commercial Bank of China venture that will organise listings of large mainland firms in the city.
THE STANDARD
-- The Employers' Federation of Hong Kong has branded as "unwise and unsound" government plans to raise salaries of civil servants based on pay trend findings. Federation chairman John Chan said the suggested pay rises in the survey were very high and would put pressure on the private sector.
SING PAO
-- The legislature's committee on housing aborted a meeting as attendance was below the minimum requirement. Reasons given by absent lawmakers included going to an earthquake relief charity event and having a toothache. The chairman of the meeting has asked members to review their responsibility.
TA KUNG PAO
-- Consumer prices on the mainland are expected to ease, with inflation falling below the 8 percent level in May. The market believes an interest rate increase in June is unlikely.
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