PRESS DIGEST- Hong Kong - Aug 10
Aug 10 (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
- Chief Executive Leung Chun-ying has made his strongest call for Hong Kong to ditch its hands-off economic policy, calling it outdated and arguing that it was time for the government to take a leading role in the city's big business decisions. In an interview with Xinhua, Leung suggested Hong Kong should build an appropriately proactive government and drop its laissez-faire approach. (http://bit.ly/1hsqCXy)
- Market operator Hong Kong Exchanges and Clearing is expected to report a more than twofold jump in second-quarter earnings when it releases results on Wednesday, but analysts expect challenges ahead as turnover has turned sharply lower in recent weeks after a market rout shook equities in the city and mainland China. (http://bit.ly/1TizI4N)
- Boer Power Holdings Ltd has hit back at mainland media Capital Week report that accused the company of inflating its profit by almost five times. "The report contains certain allegations or comments on the company which are factually erroneous, inaccurate or misleading," Boer said in a stock exchange filing late on Friday. (http://bit.ly/1NkshIJ)
THE STANDARD
- Prada SpA, the Italian luxury brands operator of Prada and Miu Miu, finally kicked off a mark-down sale in Hong Kong and Macau to boost sales after announcing disappointing interim results. The price adjustment is in response to the depreciation of the euro to US dollar, a Miu Miu saleswoman in Harbour City said. (http://bit.ly/1MWUIzh)
- Financial Secretary John Tsang Chun-wah has warned that emerging countries might face a bursting of stock and property market bubbles after the normalisation of the U.S. interest rate, but he is confident Hong Kong can endure the possible turbulence, he wrote in a blog post on Sunday. (http://bit.ly/1IYaZBz)
HONG KONG ECONOMIC JOURNAL
- Daiwa Associate Holdings Ltd said its major shareholder Lau Tak Wan and other shareholders have agreed to sell an aggregate 55.17 percent stake in the company at HK$1.144 per share for HK$276 million ($35.6 million).
For Chinese newspapers, see............... ($1 = 7.7522 Hong Kong dollars) (Compiled by Donny Kwok in Hong Kong; Editing by Anand Basu)
