Press Digest: Hong Kong - Dec 8

Giordano International

08/12/2015 01:37

HONG KONG, Dec 8 (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.   
         
    SOUTH CHINA MORNING POST  
    - Ahead of a legislative showdown over a controversial 
copyright bill that detractors have decried as a clampdown on 
freedom of expression, the government has sought to assuage such 
concerns even as it prepares to ward off a stormy passage for 
the bill. Police said they expected 1,000 protesters to besiege 
Legislative Council during Wednesday's session. Organisers put 
the estimate at 2,000. (http://bit.ly/1XQEtdq)   
    - Financial Secretary John Tsang Chun-wah warned that a 
potential interest-rate hike by the U.S. Federal Reserve next 
week is turning to be the biggest economic concern in Hong Kong. 
Tsang said the strong U.S. payroll number released last Friday 
had prompted market expectations that the Fed would raise its 
near-zero interest rate for the first time in nine years. (http://bit.ly/1lKqEMl) 
    - Hong Kong made five requests to remove 24 items in the 
second half of last year, including a YouTube video that showed 
police assaulting a person under arrest, according to the latest 
Google report. Google refused to remove the video, despite a 
request from commercial crime bureau, claiming it "disseminates 
a false message that Hong Kong police assaulted a person under 
arrest in a police vehicle". (http://bit.ly/1TVjd0y) 
     
    THE STANDARD 
    - The Airport Authority signed a HK$5 billion ($645 
million)revolving credit facility with 21 local and 
international banks, including HSBC, Hang Seng, Standard 
Chartered, Bank of China, and Australia and New Zealand Banking 
Group, to be used in construction of the third runway. The money 
will go towards designing the runway and geographical surveys, 
according to authority chairman Jack So. (http://bit.ly/1NGSDTw) 
    - Qianhai Chow Tai Fook Global Goods Shopping Center open on 
Monday with stores selling goods imported from Hong Kong. The 21 
retail brands that set up shop include Chow Tai Fook  1929.HK , 
Sa Sa  0178.HK , Giordano  0709.HK , CRCare and infant formula 
and food vendors. About 350 million yuan ($54.6 million) was 
spent building the mall with the second phase scheduled to open 
next summer. (http://bit.ly/1Tx2jEy) 
    - Hong Kong should prepare for capital outflows, a slowing 
economy and downward pressure in the property market with the 
U.S. interest rate rise, says Hong Kong Monetary Authority chief 
executive Norman Chan Tak-lam. The U.S. dollar should remain 
strong for a while but difficult adjustments lie ahead for 
emerging economies and Hong Kong will not be immune, he added. 
(http://bit.ly/1lKtL6M) 
       
    HONG KONG ECONOMIC JOURNAL  
    - Sino-Ocean Land Holdings Ltd  3377.HK  said its second 
largest shareholder Nan Fung Group had sold 20.52 percent 
company stake China's Anbang Insurance Group Co Ltd and Anbang 
Property & Casualty Insurance Co for HK$7.78 billion ($1.00 
billion), reducing its stake to 0.8 percent. The property group 
Nan Fung has suffered about HK$900 million loss in the deal. 
    - Securities and Futures Commission saw its levy income 
totalling HK$375 million ($48.4 million) for three-months 
quarter ended in September, down 33.2 percent from the previous 
quarter. It recorded a deficit of HK$32 million for the quarter, 
compared to a surplus of HK$249 million last quarter and a 
deficit of HK$6 million the same period a year ago. 
  
    For Chinese newspapers, see............... PRESS/CN    
($1 = 7.7500 Hong Kong dollars) 
($1 = 6.4081 Chinese yuan renminbi) 
 
 (Reporting by Donny Kwok; Editing by Sherry Jacob-Phillips) 
 ((donny.kwok@thomsonreuters.com)(+852 2843 6470)(Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: PRESS DIGEST HONGKONG/