PRESS DIGEST - Hong Kong - April 22

HONG KONG, April 22 (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

-- A human resource survey has found that 88 percent of employees received a pay rise this year and the average increase was more than 4 percent. The average bonus issued by companies was equal to 1.42 months' pay, slightly below last year's level.

APPLE DAILY

-- Insurer L&G of the UK increased its stake in HSBC Holdings (0005.HK: Quote, Profile, Research, Stock Buzz) (HSBA.L: Quote, Profile, Research, Stock Buzz) to 5 percent last week, according to disclosure documents. The company is now the second-largest stakeholder in the banking giant.

-- Mainland developer Shimao Property Holdings Ltd (0813.HK: Quote, Profile, Research, Stock Buzz) reported an 80 percent on year growth in net profit to 4.09 billion for 2007. The company has revealed it plans to spin off its hotel unit for a separate public listing next year.

MING PAO DAILY NEWS

-- Reports say only two banks -- ICBC Asia and ANZ -- are left in the running for the 53.2 percent stake sale by local lender Wing Lung Bank (0096.HK: Quote, Profile, Research, Stock Buzz) after Bank of Communications (3328.HK: Quote, Profile, Research, Stock Buzz) (601328.SS: Quote, Profile, Research, Stock Buzz) dropped out. They will make the final bid at the end of April.

SING TAO DAILY