HONG KONG NEWSPAPER HIGHLIGHTS - NOV 20, 2009

Posted on: Fri, 20 Nov 2009 00:29:00 EST


Symbols: SCHPY
HONG KONG, Nov 20, 2009 (AsiaPulse via COMTEX) --
SCHPY | Quote | Chart | News | PowerRating -- Highlights of today's
newspapers:

SOUTH CHINA MORNING POST:

- Shares of Longfor Properties and China Tontine Wines Group
(SEHK:0389) surged in their trading debuts yesterday as
investors appeared unfazed by the recent glut of initial public
offerings and focused on the strong pre-listing response for
the two companies.

- A total of HK$567.5 billion (US$73.225 billion) flowed
into Hong Kong from October 1 last year to last Friday in what
Hong Kong Monetary Authority chief executive Norman Chan
Tak-lam described as an unprecedented situation.

- A corporate showdown is being played out in the boardroom
of a Hong Kong-listed company with lucrative exploration rights
in resources-rich Inner Mongolia.

- China Strategic Holdings (SEHK:0235), which is facing
opposition in Taipei to its US$2.15 billion buyout of Taiwan's
largest life insurer, admitted it had not thoroughly checked
whether its bid partner, Primus Financial Holdings, was funded
with mainland cash.

- Deutsche Bank has agreed to buy an additional 3.43 per
cent stake in Beijing-based Huaxia Bank, becoming the mainland
lender's single-largest shareholder.

THE STANDARD:

- China Strategic said its decision to introduce Chinatrust
as a partner in its bid for Taiwan's Nan Shan Life is not a
trade-off for approval from the island's regulator.

- HSBC Holdings (SEHK:0005) confirmed it is in talks about
selling its Paris prime property assets, following its sale of
headquarters in London and New York.

- The Link Real Estate Investment Trust (SEHK:0823) recorded
a 19.3 per cent increase in first-half distributable income on
strong asset enhancement project contributions and rental
reversion.

- Asia is leading the global economy out of the deepest
downturn in decades but the recovery will be marred by high
unemployment and huge government debt across industrialized
countries, the Organization for Economic Cooperation and
Development said yesterday.

- Manulife Financial Corp (SEHK:0945) plans to issue C$2.5
billion (US$2.351 billion) worth of common shares to raise
funds for the second time in less than a year, the company
announced in Toronto.

- China Resources Enterprise (SEHK:0291) said its
third-quarter net profit jumped 55.4 per cent from a year ago,
due to the economic recovery and reduction in some strategic
investments.

maz

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