HONG KONG, Aug 28 (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
-- A legal scholar from Beijing acknowledged an "inaccuracy" and "omissions" in the English version of the white paper on Hong Kong, which many in the city have interpreted as a threat to its judicial independence. Wang Zhenmin, a former member of the Basic Law Committee, said the white paper issued by the State Council in June was not meant to affect judicial independence. (http://bit.ly/VOl2U8)
-- Nine in 10 Hongkongers believe apartment prices are too high and more than a third fear they will go even higher. While it came as little surprise, the numbers were confirmed in a university poll where barely one in 10 of the 738 people polled expected prices to fall. (http://bit.ly/YXLyMT)
-- Haier Electronics plans new acquisitions to bolster its fast-growing logistics service business, after the company posted a 19 per cent year-on-year increase in first-half net profit. (http://bit.ly/1pjjzC4)
THE STANDARD
-- Occupy Central looks set to kick off, triggered by Beijing's decision to make chief executive hopefuls win more than 50 percent support of nominating committee members to run for office in 2017. (http://bit.ly/1wF1kLs)
-- Sing Tao News Corporation said net profit for the six months to June 30 climbed 21.2 percent from a year earlier to HK$30.30 million ($3.9 million), thanks to robust media operations despite a slowdown in the local ad market. (http://bit.ly/1lwX9N6)
HONG KONG ECONOMIC JOURNAL
-- Fosun International now holds 33 billion yuan ($5.4 billion) cash, together with another 105.4 billion yuan from Fosun Insurance Portugal that can be used for investment. The Chinese conglomerate has sufficient capital to fund acquisitions in the second half, according to Chief Executive Leo Liang.
-- Japanese ramen restaurant chain operator Ajisen (China) Holdings Ltd, which posted a 0.7 percent fall in same-store sales in Hong Kong in the first half of 2014, expects to see growth in the city's store sales in the second half, while a mid-single digit store sales growth is expected in the China market, according to Chief Financial Officer Robert Lau.
HONG KONG ECONOMIC TIMES
-- Chinese developer Country Garden Holdings Co Ltd proposed to issue 1.27 billion rights shares in the proportion of one rights share for every 15 held, raising up to HK$3.18 billion ($410 million) to refinance existing debt and for working capital.
-- Shui On Land Ltd has agreed to sell two hotel projects in Shanghai to Great Eagle Holdings for an aggregate 2.7 billion yuan. Shui On chairman Antony Lo said the company will continue to sell its non-core assets.
MING PAO DAILY NEWS
-- Tianjin Deputy Mayor Ren Xuefeng has been named as the Communist Party secretary for Guangzhou, replacing Wan Qingliang, who is under probe for corruption. It is the first time in over 30 years that someone from outside Guangdong province taking up the post, and observers suggested it may be related to Beijing's anti-corruption campaign in the province.
For Chinese newspapers, see............... (1 US dollar = 7.7500 Hong Kong dollar) (1 US dollar = 6.1430 Chinese yuan) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)
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