Wires

PRESS DIGEST - Hong Kong - Oct 11

Share

HONG KONG, Oct 11 (Reuters) - These are some of the leadingstories in Hong Kong newspapers on Thursday. Reuters has notverified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- China could overtake Japan as the second-wealthiestcountry in the world by household assets in five years on theback of a booming middle class and rapid growth in the number ofultra-high-net-worth individuals, according to a Credit SuisseGroup report. China is expected to add $18 trillion in householdwealth by 2017, bringing the country's total to $38 trillion. ()

-- Poly Real Estate Group has acquired acommercial-residential block in Shanghai's centre for 4.5billion yuan ($716.18 million), the highest price for a site inthe city this year. ()

-- Chinalco Mining Corp International, a Peruvian coppermining unit of the state-owned Aluminum Corporation of China, may slash its up to $1 billion initial publicoffering in Hong Kong by more than half as it faces lacklustredemand for new shares amid the global downturn. ()

HONG KONG ECONOMIC JOURNAL -- Property developer China Overseas Land & Investment's

contract sales in September totalled HK$8.63 billion($1.11 billion), up 30.8 percent from a year earlier, but only a7.6 percent rise from August.

THE STANDARD

-- Construction machinery maker Zoomlion Heavy IndustryScience and Technology plans to set up aninsurance business. The firm will team up with eight other largeenterprises to set up the venture in Hunan province, withregistered capital of 1.15 billion yuan.

-- A 46-year-old woman who went into septic shock from asuperbug infection after blood transfusions at the DR beautycenter died on Wednesday.

APPLE DAILY

-- Chinese developer Yuexiu Property Co said ithas acquired a plot in Guangzhou, allocated for residential use,for 1.65 billion yuan.

TA KUNG PAO

-- China Railway Construction Corp Ltdsaid its subsidiary had won two railway construction contractsin China worth a total of 5.21 billion yuan.

For Chinese newspapers, see...............($1 = 6.2833 Chinese yuan)($1 = 7.7523 Hong Kong dollars)

(Reporting by Twinnie Siu; Editing by Jijo Jacob)

((+852 2843 6441))

Keywords: PRESS DIGEST HONGKONG/