PRESS DIGEST - Hong Kong - March 26

HONG KONG, March 26 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy. SOUTH CHINA MORNING POST -- A state-controlled asset manager has sold distressed debt on the mainland's largest online retail platform for the first time. The Zhejiang province branch of China Cinda Asset Management, which was created under the Ministry of Finance in 1999, sold off two soured debt contracts on a Taobao page this month for 24.5 million yuan. ($3.94 million) (http://bit.ly/1E1uTtY) -- Former executive councillor and chairman of the failed Hong Kong Mercantile Exchange Barry Cheung Chun-yuen could face jail after pleading guilty to failing to pay an employee, moments before his lawyer revealed his client was expected to be declared bankrupt. (http://bit.ly/1Ozo0mM) -- Sinopec Oilfield Service, the drilling and construction services arm of China Petrochemical, will seek to mitigate the impact of lower oil drilling work volume this year by drilling more gas wells, developing new businesses and cutting costs. (http://bit.ly/1HI3RG1) THE STANDARD -- The HK$150 banknotes to be issued by HSBC to commemorate its 150th anniversary have been oversubscribed by up to 64 times, making it clear they are a target of speculators. The bank will issue two million banknotes in three formats, all of which have seen an overwhelming response. (http://bit.ly/1EVDegx) -- The Centre for Food Safety is checking whether any food and drink products imported from Japan have been mislabelled. This comes after chain stores in Taiwan were found selling some Japanese food items that were said to be labelled as having being made in Tokyo, instead of their actual place of origin in radiation-contaminated Fukushima. (http://bit.ly/1y9uCxM) -- More than 60 percent of secondary students show symptoms of slight to severe depression, with 7 percent even having thoughts of suicide, according to a survey by the Christian Family Service Centre and Hong Kong Polytechnic University. The survey also found more than 50 percent of the students had slight to severe anxiety. (http://bit.ly/1HI4UZY) MING PAO DAILY -- Oleg Mukhamedshin, deputy CEO of top global aluminium producer United Company Rusal, said he expected aluminium prices to remain stable in the coming two quarters, but could go up again in the fourth quarter. For Chinese newspapers, see............... ($1 = 6.2116 Chinese yuan renminbi) (Reporting by Donny Kwok; Editing by Sunil Nair)