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HONG KONG, Oct 1 Asia Pulse - Highlights of today's newspapers:
THE SOUTH CHINA MORNING POST
- Hong Kong will launch a new stock market index on Wednesday, but fund managers are sceptical about its usefulness, saying the market will stick to the tried and tested, the benchmark Hang Seng Index.
- Market watchers say the first trading day holds the key to the future of Hong Kong Exchanges and Clearing's overseas stock futures and options, due to debut on Thursday.
- Soft commercial rents in Hong Kong look set to sag further as the effect of the attacks on the United States ripple through Asia, straining the economy and slashing demand for office space.
- The number of property transactions last month is expected to have fallen 24 per cent from the August figure to about 6,000, the lowest level since April, according to Centaline Property Agency.
- Henderson Land Development, the SAR's third-largest developer, is forecast to announce on Thursday a 23 to 36 per cent drop in net profit for the year to June 30 due to fewer property sales.
Source: HighBeam Research, HONG KONG NEWSPAPER HIGHLIGHTS - OCT 1, 2001.