PRESS DIGEST - Hong Kong - Oct 22
HONG KONG, Oct 22 (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
- One in every four cigarettes smoked in Hong Kong last year was illicit, costing the government HK$2.5 billion ($323 million) lost in tax revenues, according to a study conducted by UK-based Oxford Economics and funded by tobacco giant Philip Morris. Concern groups have called for stronger action against organised smuggling gangs and syndicates. (http://bit.ly/1OTGQWi)
- Two of the four men who allegedly attacked and killed a mainland tourist at a jewellery shop in Hung Hom on Monday may have fled across the border, police sources said. The incident prompted a rare call from China's tourism authority for Hong Kong to protect the rights of mainland travellers, while several mainland media outlets rekindled anti-Hong Kong sentiment. (http://bit.ly/1GUPyNy)
- CLSA has joined the chorus of investment banks predicting that Hong Kong will run into a bear property market as it forecast a 17 percent price drop in the next 27 months. In a research report, CLSA said buying power in the property market had been exhausted as developers rushed to dispose of their assets. (http://bit.ly/1NV0XVA)
THE STANDARD
- The Hong Kong government supported a 3 percent pay rise for senior public doctors, saying the issue could be settled with the Hospital Authority footing the HK$200 million ($25.8 million) annual bill. Funding approval is expected to be discussed at the authority's board meeting on Thursday. (http://bit.ly/1NoxmAP)
- Hong Kong recorded a 30 percent fall in the number of home sales in the primary market in the third quarter with total value down 20 percent quarter on quarter, according to Land Registry. But this has not put a dampener on project launches as developers, including Cheung Kong Property and Sun Hung Kai Properties, keep up the pace of putting new homes on the market. (http://bit.ly/1MU5PbU)
HONG KONG ECONOMIC JOURNAL
- Bank of China Hong Kong Ltd will tap the fast-growing private banking business in Asia, in particular China, aiming to manage U.S.$60-70 billion worth of assets in the region in three years, according to Wendy Tsang Kam Yin, general manager of private banking.
For Chinese newspapers, see............... ($1 = 7.7501 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Sunil Nair)
