December 11, 2013 / 2:10 AM / 4 years ago

PRESS DIGEST -Hong Kong - Dec 11

HONG KONG, Dec 11 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.


-- Households in Kowloon and the New Territories will see the cost of electricity soar 40 percent in the next five years, making it higher than on Hong Kong Island, where bills will be frozen. Hongkong Electric will freeze prices for five years while CLP will up tariffs 3.9 percent. ()

-- China’s largest internet firm Tencent is stepping up its international expansion plans through a new infrastructure deployment in Hong Kong with global data centre services provider Equinix. ()

-- The mainland’s family planning authority vowed to grant no favours to film director Zhang Yimou, saying his breach of the one-child policy would be handled strictly according to the law. ()


-- A stuffed toy wolf has become an unlikely anti-government symbol and is selling out at Ikea stores. Hundreds of the toys, called Lufsig, flew off the shelves within hours on Monday and again on Tuesday, after a protester threw one at Chief Executive Leung Chun-ying during a public meeting on Sunday. ()

-- Sino Land and Hopewell hiked prices of the latest batch of flats at The Avenue in Wan Chai to a discounted HK$24,849 ($3,200) per sellable sq ft, up from HK$18,994 per sellable sq ft. in the first batch of apartments sold at the end of November. ()

-- A new Mandatory Provident Fund being launched by Manulife is based on yuan bonds, the third of its kind in Hong Kong. The average yield of yuan bonds is around 3.53 percent, and the currency is expected to gain 1-2 percent per annum versus the US dollar. ()


-- Tencent, which has invested 1.6 billion yuan in Shenzhen’s Qianhai economic zone, will invest at least 10 billion yuan ($1.65 billion) in future to develop e-commerce and internet finance business, according to its website citing chairman Pony Ma.

-- Death care company Fu Shou Yuan International Group Ltd saw its retail public offering portion of its Hong Kong IPO 230 times oversubscribed on the second day of launch, according the statistics from 8 brokerages.


-- Google has scrapped plans to build a data centre in Hong Kong, two years after a groundbreaking ceremony at a site in Tseung Kwan O, due to lack of land availability, but said it will not reduce investment in the city, according to a company spokesman.


-- Chairman Lee Shau Kee had on Dec. 5 bought 259,000 million shares of Henderson Land in the open market for HK$11.5 million ($1.48 million), raising his stake in the developer to 65.54 percent from 65.53 percent.

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