Hong Kong Market falls on casino slump

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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