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PRESS DIGEST - Hong Kong - Nov 15
November 15, 2013 / 2:00 AM / 4 years ago

PRESS DIGEST - Hong Kong - Nov 15

HONG KONG, Nov 15 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.


-- A statutory stockbrokers’ association is needed to frame rules to stop cut-throat competition as a commissions war threatens to push fees too low for small players to survive, lawmakers have urged the Hong Kong government. ()

-- Sun Hung Kai Properties says it will explore investment opportunities on the mainland that may emerge in the wake of the just-concluded third plenary meeting of the Communist Party. ()


-- Jeweller Luk Fook said interim net profit for the six months ended September would rise significantly due to substantial sales growth, while cosmetic retailer Sa Sa International expects stable sales growth locally and will boost investment in its e-commerce portal. ()

-- Cheung Kong is set to raise prices of its remaining flats in Tsuen Wan East by 8 percent due to “current bullish market sentiment” to an average HK$10,757 ($1,400) per sellable square foot. ()

-- Sun Hung Kai Properties forecasts property prices to remain stable, as strong demand is seen particularly for small- to mid-sized flats. Co-chairman Thomas Kwok Ping-kwong said he is confident about the local housing market for 2014. ()


-- Hong Kong government has appointed Mary Ma, chairman of private equity firm Boyu Capital Advisory which is a shareholder of Alibaba , as a non-executive director of the Securities and Futures Commission. Ma was formerly a partner of TPG Capital and a director of Lenovo.


-- Chinese hospital operator Phoenix Healthcare Group Co Ltd is set to sell shares in its Hong Kong IPO at an indicative range of HK$5.88 to HK$7.38 per share, raising up to HK$1.48 billion ($190.88 million).


-- Italian fashion house Prada told analysts that its same store sales growth in China so far this year was in single digits, a level below its global same store sales growth of 7 percent in its fiscal first half year.

For Chinese newspapers, see...............

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