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HONG KONG NEWSPAPER HIGHLIGHTS - APRIL 1, 2008.
HONG KONG, April 1 Asia Pulse - Highlights of today's newspapers:
SOUTH CHINA MORNING POST:
- Mainland stocks yesterday completed their worst quarter since 1992 while Hong Kong equities posted the most losses since 2001 as fears of a global financial meltdown panicked investors.
- Shares of Wing Lung Bank (SEHK: 0096) surged as much as 18.27 per cent to a record intraday high of HK$139.80 yesterday, after Apple Daily reported that potential buyers might pay as much as 3.5 times book value for a controlling stake in the medium-sized bank.
- China Resources Enterprise, which runs the mainland's largest supermarket chain and brewer, said the nation's sizzling economy drove its underlying profit 11 per cent to a record HK$2.05 billion last year.
- Hong Kong stocks closed lower yesterday on profit taking after last week's gains, with a weak United States economy adding to concerns about the global credit crunch. Dealers said a decline in the mainland market also hit sentiment.
- SCMP Group, publisher of the South China Morning Post (SEHK: 0583), yesterday said net earnings rose 62 per cent last year as the company benefited from strong economic growth in Hong Kong, Macau and the mainland.
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