Hong Kong Tycoons, Casino Giants Find Respite in Stock Rebound
- Tighter regulation of private enterprise hurts key sectors
- Uncertainty remains in face of policy risks from Beijing
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Shares of Macau casinos and Hong Kong developers rebounded on Tuesday as investors weighed whether recent sharp sell-downs have priced in regulatory risks.
Bloomberg’s gauge of casino stocks advanced 3.6% following a rout last week that wiped out nearly $20 billion in market value from the gaming enclave’s biggest operators. Meanwhile, the Hang Seng Property Index advanced 3% after a $6.7 billion hit among Hong Kong’s four top property giants on Monday.