NewPRESS DIGEST - Top stories in Hong Kong and mainland China newspapers on July 8

These are the leading stories in Hong Kong and mainland Chinese newspapers and websites on Wednesday. The South China Morning Post has not verified these stories.

A total of 97 Shenzhen-listed companies including China Vanke issued a joint announcement, pledging to maintain stock market stability through different ways such as share buybacks. (China Securities Journal)

Companies of Citic Securities Group bought A shares in seven companies in a move to arrest the market’s  slide. They spent 1.75 billion yuan to buy Ping An Bank. (China Securities Journal)

Huishang Bank, an Anhui province-based lender, has proposed an A shares offering with an issue of 1.2 billion shares. (Shanghai Securities News)

Some 986 companies requested a halt in trading of their shares in the Shanghai and Shenzhen stock markets in a move to avoid a stock price plunge. (Oriental Daily)

The slump in mainland stock markets may result in a devaluation of the RMB. The yuan currency is expected to fall three per cent this year. (Oriental Daily)