Economics
Hong Kong Stocks Decline as Casinos Companies Tumble
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Hong Kong stocks dropped, dragging the city’s benchmark index down to its lowest level since July, as casino companies tumbled on signs of a slowdown in Macau gambling revenue and property developers declined.
Galaxy Entertainment Group Ltd. and Sands China Ltd. plunged more than 7 percent to lead losses in Hong Kong. Gambling sales growth in Macau slumped to 7 percent in January, the slowest pace since October 2012, according to official data. A gauge of property shares dropped for an eighth day as Cheung Kong Holdings Ltd., the developer controlled by billionaire Li Ka-shing, slid to its lowest level since September.