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HONG KONG, Feb 1 Asia Pulse - Highlights of today's newspapers:
SOUTH CHINA MORNING POST:
- Hong Kong and mainland stocks completed one of their worst trading months yesterday as investors were unconvinced another US interest-rate cut would help the ailing global economy.
- The global subprime mortgage crisis is hitting closer to home, with Standard Chartered Bank lending up to US$7.15 billion to prop up a structured investment vehicle (SIV).
- In what is deemed a strategic move to meet shareholders' wishes to focus on the Hong Kong-mainland market, HSBC Holdings (SEHK: 0005) has appointed its Asia-Pacific and China head Vincent Cheng Hoi-chuen to the board as an executive director, effective today.
- Despite a jittery global economy, mainland information technology giant Lenovo Group is betting on a banner year as it expands into international markets with new consumer-oriented personal computers and enterprise servers.
- After casting off the IBM brand from its global marketing programme, Lenovo Group (SEHK: 0992, announcements, news) is shedding its unprofitable mobile-telephone division in a bid to sharpen focus on its core computer business.
Source: HighBeam Research, HONG KONG NEWSPAPER HIGHLIGHTS - FEB 1, 2008.