PRESS DIGEST - Hong Kong - April 23

HONG KONG, April 23 (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.

HONG KONG ECONOMIC TIMES

-- The old Kai Tak site in Southeast Kowloon is set for a massive overhaul as a number of projects are ready to begin in the master plan to turn the district into a new commercial and entertainment hub.

APPLE DAILY

-- The Hong Kong government, which holds a 5.88 percent stake in HKEx (0388.HK: Quote, Profile, Research, Stock Buzz), has indicated it will likely cast its vote in the board of directors' election at the company tomorrow. Two seats are up for grabs.

SOUTH CHINA MORNING POST

-- Shenzhen customs authorities have increased spot checks to prevent people taking excessive amounts of yuan across the border as they seek to cash in on the strengthening currency and higher mainland interest rates.

THE STANDARD

-- Hong Kong's financial market will become more volatile if the mainland government further tightens monetary policy amid the risk of slower economic growth, chief executive of Hong Kong Monetary Authority Joseph Yam has warned.