PRESS DIGEST - Hong Kong - Aug 8

HONG KONG, Aug 8 (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.

HONG KONG ECONOMIC TIMES

-- Downtown firms may not hold parties for the Olympic Games opening this evening like they did for World Cup soccer, but some companies are closing earlier tonight to let workers go home to watch the gala.

APPLE DAILY

-- Hong Kong Monetary Authority chief executive Joseph Yam seems to be more worried about the Asian economic outlook. He said in a weekly column that Hong Kong's GDP growth would slow in the second half of the year and that a lower-than-expected growth rate could not be ruled out.

MING PAO DAILY NEWS

-- Mainland-based sports goods manufacturer plays slid ahead of the Beijing Games. Industry leader Li Ning Co (2331.HK: Quote, Profile, Research, Stock Buzz) saw share price drop as much as 8.4 percent before closing with a 5 percent loss.

SING TAO DAILY

-- Swire Pacific's (0019.HK: Quote, Profile, Research, Stock Buzz) underlying profit for the first half dropped 38 percent from last year to HK$3.265 billion ($418.3 million). The group was dragged by losses of subsidiary airline Cathay Pacific Airways (0293.HK: Quote, Profile, Research, Stock Buzz).  Continued...