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HONG KONG, April 1 Asia Pulse - Highlights of today's newspapers:
SOUTH CHINA MORNING POST:
- The mainland securities regulator yesterday took advantage of rising investor confidence to announce rules for the long-awaited Nasdaq-style second board as well as the resumption of initial public offerings.
- In a rare move to revive investor confidence, Bank of China, which controls 65.77 per cent of BOC Hong Kong (Holdings) (SEHK: 2388) or BOCHK, said it would "continually increase its shareholding" in the banking subsidiary on the secondary market.
- Hunan Valin Iron & Steel has received Australian government approval to take a 17.4 per cent stake in Fortescue Metals Group while China Minmetals Corp has submitted a revised offer for OZ Minerals after Canberra objected to the original deal.
THE STANDARD:
- The city's consumer confidence index last year slipped to the 2004 level, dropping 1.6 percent to 69.1.