PRESS DIGEST - Hong Kong - Aug 11

HONG KONG, Aug 11 (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

-- Mandatory Provident Funds (MPFs), launched eight years ago to pool contributions by employers and employees, have recorded an average annual gain of 6.4 percent since their inception, according to the MPF Schemes Authority.

-- Mainland China will announce this week key economic indices for July, which are expected to show that inflation has dropped.

APPLE DAILY

-- The restructuring of some Chinese state enterprises, which are not related to national security, will speed up after the Beijing Games, according to a top official.

-- Major financial institutions have turned gloomy on stock market operator Hong Kong Stock Exchange (0388.HK) and have slashed share price targets to as low as HK$90 per share. The stock closed at HK$107 on Friday.

SOUTH CHINA MORNING POST

-- Hong Kong is facing keener competition from mainland Chinese cities in the race to become a regional wine hub. But traders are satisfied that the city's potential remains strong.

-- Liquidators of failed Oasis Hong Kong Airlines will auction just about everything of value left by the company.

THE STANDARD

-- More local mid-cap lenders are set to announce their 2008 interim results this week. Analysts said investors need to take note of banks' asset quality and the level of writedowns and provisions on structured investment vehicle investments.

-- CLP Holdings (0002.HK), the larger of Hong Kong's two electricity providers, is expected to report an 18 percent fall in its first-half net profit because of rising oil prices.

HONG KONG ECONOMIC JOURNAL

-- A sharp gain is predicted for the Hong Kong bourse on Monday, following rebounds in other major markets before the weekend. U.S. stocks gained 2.65 percent on Friday.

SING PAO

-- Authorities have stepped up security measures at the Olympic equestrian venues in Hong Kong following a number of attacks and bombings in mainland China.