Feb 5 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.
SOUTH CHINA MORNING POST
-- The Hong Kong Monetary Authority is poised to launch its
sixth round of mortgage tightening measures since 2009. The
overheating property market remains the biggest risk factor to
the stability of the Hong Kong economy, said Norman Chan, chief
executive of the authority.
-- More than 800 subsidised flats, mostly in Tin Shui Wai,
will be offered next month at a 30 percent discount to market
values set in the September-December period last year. These
flats are priced between HK$1.2 million ($154,800) and HK$2
-- Accounting giant KPMG predicted Hong Kong would face a
budget deficit of HK$45.8 billion in the next fiscal year. It
also said a goods and services tax would help widen the tax base
and allow income taxes to be lowered.
-- Seven listed firms posted profit warnings on Monday,
including Dynasty Fine Wines Group Ltd, China Datang
Corp Renewable Power Co Ltd and sportswear retailer
Meike International Holdings Ltd.
WEN WEI PO
-- Property developer Shimao Property Holdings Ltd
said contract sales for January soared 353 percent from a year
earlier to 4.12 billion yuan ($661.02 million).
TA KUNG PAO
-- Chinese property developer Evergrande Real Estate Group
Ltd said contract sales for January jumped 2.26 times
from a year earlier to 7.25 billion yuan.
For Chinese newspapers, see...............
($1 = 7.7540 Hong Kong dollars)
($1 = 6.2328 Chinese yuan)
(Reporting by Twinnie Siu; Editing by Subhranshu Sahu)