HONG KONG, May 7 (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
-- Mutual fund firm Vanguard is expanding into Hong Kong's retail market through exchange-traded fund (ETF) offerings, in a move that could trigger a fee war in the city's fund market as the world's cheapest ETF provider comes to town. (http://link.reuters.com/nek87t)
-- Next Media Ltd, owned by Hong Kong media mogul Jimmy Lai, expects a substantially bigger loss for the year to March, mainly due to operating losses incurred on the group's Taiwanese television and multimedia operations and its Hong Kong free newspaper Sharp Daily. (http://link.reuters.com/qek87t)
HONG KONG ECONOMIC JOURNAL
-- Sports shoe maker Yue Yuen Industrial (Holdings) Ltd warned it will suffer a significant downturn in the first quarter ending March 31 due to rising costs and lower operating efficiency.
HONG KONG ECONOMIC TIMES
-- Chinese packaging manufacturer Nine Dragons Paper (Holdings) Ltd said it will invest about $180 million to add six production lines in the next three years, including five on the mainland and one in Vietnam.
THE STANDARD
-- Railway operator MTR Corp Ltd has invited tenders for a residential site near Long Ping MTR station in Yuen Long. The 90,396-square-foot site is expected to fetch up to HK$1.63 billion ($210.08 million). (http://link.reuters.com/rek87t)
MING PAO DAILY NEWS
-- Hong Kong and France have signed a bilateral working holiday scheme agreement that allows 200 hundred participants from each side annually to stay up to a year in France or Hong Kong on holiday and take up employment to finance their stay.
APPLE DAILY
-- Cosmetic retail chain operator Bonjour Holdings Ltd said retail sales in Hong Kong and Macau grew about 19 percent year on year during Labour Day holiday from April 27 to May 1, while same stores sales rose 33 percent.
WEN WEI PO
-- Property developer Kaisa Group Holdings Ltd has acquired a piece of residential land in Guangzhou for 1.87 billion yuan ($303.24 million).
For Chinese newspapers, see............... ($1 = 7.7590 Hong Kong dollars) ($1 = 6.1667 Chinese yuan) (Reporting by Twinnie Siu; Editing by Sunil Nair)
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