PRESS DIGEST - Hong Kong - May 5

HONG KONG, May 5 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

HONG KONG ECONOMIC TIMES

-- The number of mainland tourists visiting Hong Kong during the shortened Labour Day holiday break dropped 18 percent. But retailers said sales were stable during the period.

APPLE DAILY

-- The Chinese Gold and Silver Exchange Society has criticised HKEx for using London gold prices as a local reference.

MING PAO DAILY NEWS

-- Asia Cement (China) Corporation is to kick off its IPO exercise today with a target to raise HK$2.4 billion. The company said production would be increased to above 10 million tonnes per year by the end of this year.

SING TAO DAILY

-- Standard Chartered (STAN.L: Quote, Profile, Research, Stock Buzz) (2888.HK: Quote, Profile, Research, Stock Buzz) announced the ratio of shareholding by stake holder Temasek had dropped slightly to 18.99 percent from 19.03 percent. Banknote issuer banks in Hong Kong such as Standard Chartered would lose that status if foreign ownership surpassed the 20-percent mark.