March 17, 2014 / 1:50 AM / 4 years ago

PRESS DIGEST- Hong Kong - March 17

March 17 (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.

SOUTH CHINA MORNING POST

-- Hong Kong Exchanges chief Charles Li Xiaojia says the city must be ready to reform its share-listing rules if it wants to stay a globally competitive financial centre, but it was right to stick to principles that saw it lose out to New York for the potential HK$100 billion ($12.88 billion) listing of Alibaba. (link.reuters.com/can67v)

-- Lenovo's purchase of the Motorola mobile unit will hobble two giant rivals from world hi-tech hardware hub Taiwan, further frustrating three years of efforts to generate world smartphone market share considered key to their long-term survival. (link.reuters.com/fan67v)

-- The Shanghai Gold Exchange is poised to get the jump on other mainland equity and commodity trading bourses by launching a gold trading platform in the city's free-trade zone open to foreign investors. (link.reuters.com/han67v)

THE STANDARD

-- Harbin Bank, a city commercial lender based in Northeastern Heilongjiang province, plans to open its retail book on Wednesday for its HK$7.8 billion ($1.00 billion) initial public offering in Hong Kong. (link.reuters.com/kan67v)

-- Jelly producer Labixiaoxin Snacks Group Ltd faced fresh bad news after being linked to poisonous gelatine from waste leather to produce gummy candies. This follows a report alleging it had overstated sales. Chief financial officer Yap Yung said 13,000 boxes of contaminated products will be recalled. (link.reuters.com/man67v)

-- Town Health International Investments Ltd will invest 200 million yuan ($32.5 million) to set up medical institutions that will provide services including in vitro fertilization in China's Henan province. (link.reuters.com/nan67v)

HONG KONG ECONOMIC JOURNAL

-- Macau junket operators Heng Sheng Group and David Group are eyeing a backdoor listing in Hong Kong by way of directly investing in an already-listed company in the city, according to market sources.

HONG KONG ECONOMIC TIMES

-- Tencent Holdings is expected to post about 20 percent year-on-year rise in its 2013 net profit as China’s largest listed Internet company announces its earnings on Wednesday, according to an average forecast by six brokerages.

For Chinese newspapers, see............... ($1 = 7.7657 Hong Kong Dollars) ($1 = 6.1502 Chinese Yuan) (Reporting by Donny Kwok; Editing by Anand Basu)

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