HONG KONG, Feb 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
-- The share price of HKEx 0388.HK has dropped more than 25 percent from its peak last October. Citi has now revised down its target price for the stock to HK$151 each.
APPLE DAILY
-- Major developer Sun Hung Kai Properties 0016.HK, led by the Kwok brothers, said its chairman and chief executive Walter Kwok was on leave and his job would be split between his two brothers. It was said to be their mother's decision to have Walter step down following a feud among the brothers over their differences on a major investment item.
MING PAO DAILY NEWS
-- Mainland China is expected to announce a 7 percent or more increase in consumer prices for January. A severe snow storm affecting many provinces pushed prices up.
SOUTH CHINA MORNING POST
-- The future career of Canto-pop star Gillian Chung was in doubt after more than 2,000 complaints were received against a charity programme in which she made her first appearance since being embroiled in the Internet sex pictures scandal that has rocked the entertainment industry.
-- The wave of factories going bust across the border is set to escalate in the lead-up to a new labour law that threatens to expose manufacturers to greater salary and compensation claims from their workers.
THE STANDARD
-- SHKP tycoons the Kwok brothers have been torn apart over chairman Walter Kwok Ping-sheung’s affair with a woman he brought into the family firm against his siblings’ wishes. His brothers, Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen, were furious that their elder brother brought his long-time girlfriend into the business. The woman had become increasingly influential in the company, the source said.
HONG KONG ECONOMIC JOURNAL
-- More than 70 percent of SMEs think their business is not affected by the U.S. subprime problem, a HSBC poll has found. Also, at least 60 percent of them say the increased cost will be transferred for the consumers to bear.
SING PAO
-- An immigrant woman has pleaded guilty in a blackmail case against Hong Kong-listed Mengniu Dairy 2319.HK. She demanded HK$30,000 from the dairy firm after saying her son had fallen ill after drinking milk and threatened to make public her story if she was not paid.
WEN WEI PO
-- Developer Hang Lung Group 0101.HK is predicted to record bumper core earnings for the interim period. Major fund houses expect its property sales to boost first-half core profit four-fold to as much as HK$3.9 billion.
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