PRESS DIGEST-Financial Times, Wall St Journal Asia editions

SINGAPORE, July 9 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and website editions on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy. FINANCIAL TIMES (www.ft.com)

-- Large US investment banks will be able to access emergency cash from the Federal Reserve into next year if market turmoil persists, Ben Bernanke said in a sign of the growing concern among policymakers that financial strains could continue for some time.

-- Sinosteel said it was looking forward to playing a significant role in developing Western Australia's potentially lucrative mid-west region after the Chinese state-owned steelmaker effectively seized control of takeover target Midwest Corp MIS.AX.

WALL STREET JOURNAL (www.wsj.com)

-- Neptune Orient Lines (NEPS.SI) will continue its effort to buy Hapag-Lloyd AG of Germany despite the sudden resignation of Neptune Orient's chief executive, Thomas Held, the architect of the Singapore container shipper's expansion plan, two people familiar with the situation said.

-- Another big gambling promoter is promising to supply a torrent of VIP customers from mainland China to a casino in Macau, a move that could add to the pressure on the profit margins of casinos in the world's hottest gambling market. Galaxy Entertainment Group (0027.HK), one of six licensed casino companies in Macau, said it has reached a deal with a company called Lucky Star to provide customers for as many as 100 high-roller gambling tables at Galaxy's flagship StarWorld casino. StarWorld has 260 tables for both VIP and mass-market gambling.

-- Sinosteel Corp. was closing in on winning control of Midwest Corp., but failed rival bidder Murchison Metals Ltd. (MMX.AX) has vowed it won't allow the Chinese metals company to win 100% of the Australian iron-ore developer.

-- Consumers in some Asian countries are reining in their oil consumption as prices climb, raising hopes the region will exert less pressure on world energy markets if prices stay high.