Macau Casino Stocks May Drop Whether ATM Cap Is True or Not
- CMB strategist says casino shares had climbed too high
- Shares plunged in Hong Kong on report of cash withdrawal curbs
New Threat to Macau Casino Recovery
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For Daniel So, the reason behind the sudden selloff in Macau casino shares isn’t all that important.
Valuations are what matter to the CMB International Securities Ltd. strategist, and those are telling him the rout on Friday has further to go. A Bloomberg gauge of casino shares reached the most expensive level versus Hong Kong’s Hang Seng Index in seven years this week, and it still trades at a premium of more than 130 percent.