HONG KONG Dec 9 Casino stocks in Hong Kong were
set for a steep fall after a report that Macau is preparing to
slash in half the amount of cash China UnionPay card holders can
withdraw from ATM machines in the world's largest gambling
Shares of Sands China Ltd and Wynn Macau
were both expected to open down 10 percent, while those of MGM
China were seen fall 8.2 percent.
SJM Holdings shares were set for a 5.6 percent
tumble. The benchmark Hang Seng Index was also seen
easing off by 0.4 percent.
The South China Morning Post reported on Thursday that the
Monetary Authority of Macau would cut daily withdrawal limit to
5,000 patacas ($626.49) from 10,000 currently, citing a finance
industry source. The move is expected to take effect from
Casino stocks in the U.S. have also tanked overnight.
(Reporting by Clare Jim; Editing by Shri Navaratnam)