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Hong Kong Market falls on casino slump

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Capital Market
Last Updated : Jun 07 2021 | 5:31 PM IST
Hong Kong stock market finished lower fourth consecutive session on Monday, 07 June 2021, dragged down by casino stocks after the former Portuguese colony banned the entry of non-local residents via Guangdong province.

At closing bell, the benchmark Hang Seng Index declined 0.45%, or 130.82 points, to 28,787.28. The Hang Seng China Enterprises Index dropped 0.53%, or 57.44 points, to 10,748.20.

The sub-index of the Hang Seng tracking the commerce & industry sector fell 0.59%, utilities sector fell 0.79%, and the finance sector fell 0.44%, while the properties sector added 0.52%.

Macau casino stocks declined as the former Portuguese colony banned the entry of non-local residents via Guangdong province, where a cluster of Covid-19 cases have emerged while Hong Kong tightened quarantine rules. Galaxy Entertainment Group lost 2.1% to HK$62.35 and Sands China lost 1.9% to HK$33.70.

WH Group shares surged 7.7% to HK$7.33 after the world's biggest meat processor offered as much as HK$14.95 billion to buy back 13% of its capital at a premium to market.

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First Published: Jun 07 2021 | 5:12 PM IST

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