PRESS DIGEST - Hong Kong - Aug 19

HONG KONG, Aug 19 (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

-- Hang Seng Bank (0011.HK) revised its prediction on Hong Kong's 2008 GDP growth down to 4.3 percent from five percent earlier. The bank said in a report that internal demand would be the only engine for the economy but that this driver was also weakening.

-- Hong Kong sponsors halted all advertising originally planned to congratulate Olympic athlete Liu Xiang immediately after the injured star withdrew from the 110 metre hurdle race in the trial.

APPLE DAILY

-- Multimedia firm Tom Group (2383.HK) reported an increased interim loss due to a HK$472 million ($60.43 million) provision set aside for intangible assets. Its net loss for the first half of the year rose to HK$547 million, compared with HK$85 million for the same period last year.

-- Stock market operator Hong Kong Exchanges and Clearing (0388.HK) is to look into further simplification of the board-switching process. At least four companies on the second board Growth Enterprise Market (GEM) have switched their listings to the main board since July 1.

MING PAO DAILY NEWS

-- Mongolia Energy (0276.HK) saw its share price dive 28 percent on Monday as the stock was unloaded by fund managers.

SING TAO DAILY

-- JP Morgan says China's GDP growth will slow to single-digit percentages for the next five years. The rate of growth is estimated to be eight to nine percent while inflation will remain at four to five percent. Internal demand will remain strong.

SOUTH CHINA MORNING POST

-- Shares in watchmaker and retailer Peace Mark (0304.HK) were suspended on Monday after private equity firm CVC Asia Pacific made an indicative offer for shares in the company in what sources called a "white knight" bid.

-- Sotheby's is suing a Beijing resident, saying he bid on a painting by one of China's best-known realist painters and then refused to pay the HK$6.8 million price.

HONG KONG ECONOMIC JOURNAL

-- Hong Kong's official unemployment rate has dropped to the lowest level in ten years. The rate fell slightly from the previous three months to 3.2 percent for May to July.