Hong Kong protests lead to casino stock decline
Friday 06 de September 2019 / 03:55
⏱ 1 min read
(Hong Kong).- Casino stocks have dropped by more than 2% since the Hong Kong protests started. "The impression among mainland Chinse that Hong Kong is not a pleasant place to travel...could be more lasting, and that will deal a substantial blow to the local economy," Philip Tse of Bocorn International says.
Hong Kong shares fell after weekend street clashes caused major disruptions to the international airport and transport networks.
Sino Land Co. and Sun Hung Kai Properties Ltd. both slid more than 2.7%, among leading decliners on the MSCI Hong Kong Index, which fell 1.6%. Subway operator MTR Corp. dropped 3.1% after protesters damaged a number of train stations and disrupted services. Sands China Ltd., Wynn Macau Ltd. and MGM China Holdings Ltd. fell more than 2% after data showed Macau casino revenue dropped in August.
“Protests have become more violent and tense, heightening uncertainty over how all this will end,” said Philip Tse, associate director at Bocom International Co. “The impression among mainland Chinese that Hong Kong is not a pleasant place to travel, or even work or go to school, could be more lasting and that will deal a substantial blow to the local economy.”
Categoría:Casino
Tags: Sin tags
País: Hong Kong
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