May 30, 2014 / 1:57 AM / 4 years ago

PRESS DIGEST- Hong Kong - May 30

May 30 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- Cathay Pacific Airways Ltd is considering an online auction - similar to ones on eBay - where passengers can bid to upgrade their seats. In a move to boost earnings, the Hong Kong carrier is exploring a pilot project to sell premium economy and business class seats at cheaper prices. (link.reuters.com/wac79v)

-- Researchers for the central government have suggested cutting the number of mainland tourists to Hong Kong. The researcher's team had made frequent trips to the city to interview residents about their opinions on the influx. (link.reuters.com/xac79v)

-- As Beijing steps up efforts to silence dissenting voices ahead of the 25th anniversary of the Tiananmen Square crackdown, organisers of the annual candlelight vigil in Victoria Park are expecting a record turnout. (link.reuters.com/zac79v)

THE STANDARD

-- China Telecom stressed its net profit is unlikely to decline this year even if the fourth generation network license is not awarded to the firm by December. The worst-case scenario for 2014 is zero growth in 3G and 4G customers, it said. (link.reuters.com/cec79v)

-- Chongqing-based micro-finance firm Hanhua Financial Holding, which suspended its listing plan in March, will open the retail book again next week with a lower fund-raising target. (link.reuters.com/gec79v)

-- Mainland developers are facing fresh roadblocks in their rush to reduce inventory by offering hefty price cuts as several local governments have set a cap on such discounts at 15-20 percent of a flat's original price. (link.reuters.com/fec79v)

HONG KONG ECONOMIC JOURNAL

-- Retail sales through mobile phone platform in China is expected to jump by 90 percent in value term this year, and will maintain double digit growth in the next 5 to 10 years, according to a study by Li & Fung Research Centre.

HONG KONG ECONOMIC TIMES

-- Television maker TCL Multimedia Technology Holdings Ltd said it aims to develop and boost its online business, hoping online sales to contribute to 30 percent of its total sales in China in three years.

MING PAO DAILY NEWS

-- Luggage maker Samsonite International SA said it had bought U.S.-based protective case maker Speck Products for $85 million, as the company expands its products portfolio.

For Chinese newspapers, see............... ($1 = 7.7532 Hong Kong Dollars) (Compiled by Donny Kwok in Hong Kong; Editing by Anand Basu)

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