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PRESS DIGEST - Hong Kong - Feb 7

Source: Thomson Reuters Foundation - Thu, 7 Feb 2013 02:12 GMT
Author: Reuters
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HONG KONG, Feb 7 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- The government could consider using former Hong Kong barracks and up to 13 other sites under the control of the People's Liberation Army, as it searches for land to ease acute demand for housing, said Secretary for Development Paul Chan, but did not give details.

-- Media China Corp said its plans to shift focus to the health industry from media interests was a response to expectations that demand for health maintenance and retirement services would grow strongly on the mainland.

-- The Hong Kong Monetary Authority said total lending to non-bank mainland companies rose 13 percent in the first nine months of last year over the same period in 2011, less than a third of the 42.9 percent growth rate seen in 2011, as a results of the relatively weak economy on the mainland.

THE STANDARD

-- The Hong Kong Monetary Authority said local banks might be required to submit the pricing scheme data of their Hong Kong interbank offered rate in a bid to boost transparency and lower risks.

-- Hang Lung Properties Ltd Chairman Ronnie Chan warned the property market could be oversupplied as the government considers multiple measures to boost housing amid global uncertainties.

MING PAO DAILY NEWS

-- Lenovo Group Ltd Chairman and Chief Executive Yang Yuanqing reduced his long position in the company to 8.88 percent on Feb. 1 and Feb. 4 by disposing of a total of 7.898 million shares at HK${esc.dollar}8.208 (${esc.dollar}1.06) per share on average and HK${esc.dollar}8.292 per share on average respectively, according to an exchange disclosure.

ORIENTAL DAILY

-- JP Morgan reduced its long position in global supply chain manager Li & Fung Ltd. to 4.74 percent on Jan. 31 by disposing of 23.895 million shares at HK${esc.dollar}10.95 per share on average, according to an exchange disclosure.

For Chinese newspapers, see............... (${esc.dollar}1 = 7.7544 Hong Kong dollars)

(Reporting by Twinnie Siu; Editing by Subhranshu Sahu)

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