March 17 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.
SOUTH CHINA MORNING POST
-- Hong Kong Exchanges chief Charles Li Xiaojia says the city must be ready to reform its share-listing rules if it wants to stay a globally competitive financial centre, but it was right to stick to principles that saw it lose out to New York for the potential HK$100 billion ($12.88 billion) listing of Alibaba. (link.reuters.com/can67v)
-- Lenovo's purchase of the Motorola mobile unit will hobble two giant rivals from world hi-tech hardware hub Taiwan, further frustrating three years of efforts to generate world smartphone market share considered key to their long-term survival. (link.reuters.com/fan67v)
-- The Shanghai Gold Exchange is poised to get the jump on other mainland equity and commodity trading bourses by launching a gold trading platform in the city's free-trade zone open to foreign investors. (link.reuters.com/han67v)
-- Harbin Bank, a city commercial lender based in Northeastern Heilongjiang province, plans to open its retail book on Wednesday for its HK$7.8 billion ($1.00 billion) initial public offering in Hong Kong. (link.reuters.com/kan67v)
-- Jelly producer Labixiaoxin Snacks Group Ltd faced fresh bad news after being linked to poisonous gelatine from waste leather to produce gummy candies. This follows a report alleging it had overstated sales. Chief financial officer Yap Yung said 13,000 boxes of contaminated products will be recalled. (link.reuters.com/man67v)
-- Town Health International Investments Ltd will invest 200 million yuan ($32.5 million) to set up medical institutions that will provide services including in vitro fertilization in China's Henan province. (link.reuters.com/nan67v)
HONG KONG ECONOMIC JOURNAL
-- Macau junket operators Heng Sheng Group and David Group are eyeing a backdoor listing in Hong Kong by way of directly investing in an already-listed company in the city, according to market sources.
HONG KONG ECONOMIC TIMES
-- Tencent Holdings is expected to post about 20 percent year-on-year rise in its 2013 net profit as China's largest listed Internet company announces its earnings on Wednesday, according to an average forecast by six brokerages.
For Chinese newspapers, see............... ($1 = 7.7657 Hong Kong Dollars) ($1 = 6.1502 Chinese Yuan) (Reporting by Donny Kwok; Editing by Anand Basu)