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PRESS DIGEST - Hong Kong - Nov 15

Source: Thomson Reuters Foundation - Thu, 15 Nov 2012 02:05 GMT
Author: Reuters
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HONG KONG, Nov 15 (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

-- China National Cereals, Oils and Foodstuffs Corp (Cofco), the mainland's largest food trader and processor, expects the injection of assets from its property companies into Hong Kong Parkview Group will take time due to strict scrutiny by mainland and Hong Kong regulators, according to Cofco Chairman Ning Gaoning. (http://link.reuters.com/sym93t)

-- Media tycoon Jimmy Lai is expected to close the 17.5 billion Taiwan dollar (${esc.dollar}602.58 million) deal to sell Next Media's print and TV holdings in Taiwan as planned on Nov. 17. The Formosa Plastics Group will take over as controlling shareholder of the buying consortium to appease concerns raised by Taiwan's Financial Supervisory Commission, according to a source involved in the negotiations. (http://link.reuters.com/tym93t)

-- Hong Kong is the most optimistic market in the Asia-Pacific region in terms of its luxury spending outlook, but the mainlanders still top the charts in terms of spending power and future growth potential, according to a MasterCard Worldwide survey. (http://link.reuters.com/vym93t)

THE STANDARD

-- The Chinese Gold and Silver Exchange Society plans to launch a spot silver trading service in the first half of next year to meet growing local investor interest, said President Haywood Cheung. (http://link.reuters.com/wym93t)

-- Hong Kong's five major developers, including Cheung Kong (Holdings) and Sun Hung Kai Properties, plan to launch 17,650 units in 2013, 50 percent more than this year, despite the recent imposition of cooling measures. (http://link.reuters.com/xym93t)

HONG KONG ECONOMIC TIMES

-- Hong Kong Financial Secretary John Tsang said the city has neither the need nor the intention to change the Linked Exchange Rate System, which is the most appropriate system that serves the long-term interests of Hong Kong.

For Chinese newspapers, see............... (${esc.dollar}1 = 29.0420 Taiwan dollars) (Reporting by Twinnie Siu; Editing by Jijo Jacob)

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