HONG KONG, June 20 (AFP): Macau casino stocks slumped on Monday as the Chinese gaming hub battled a Covid-19 outbreak that has prompted tightened social distancing restrictions and mass testing.
The sector has been hammered by the pandemic, with vital tourism revenues wiped out by some of the world's harshest measures to tackle the virus-including tough border controls, weeks-long quarantines and targeted lockdowns.
Case numbers are small by global comparison, with only 34 found so far in citywide mass testing according to local media, but the outbreak sent casino stocks tumbling.
Sands China fell as much as eight percent while Wynn Macau dropped more than seven percent, though both partially recovered.
A Bloomberg Intelligence index of Macau's six major casino operators fell as much as five percent, taking their total losses this year to 28 percent.
The virus has been kept largely under control in Macau but the government said a chain of transmission discovered on Saturday posed an "extremely high" risk of community transmission.
Macau casino stocks slump
FE Team | Published: June 21, 2022 00:02:27
Macau casino stocks slump
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