SJM leads slide in Macau gaming stocks after Suncity chairman arrested

LET group

30/11/2021 02:56

** Shares of SJM Holdings  0880.HK  lead slide in Macau
gaming stocks, falling 3.8% to the lowest since Oct. 12 on their
third consecutive session of decline   
    ** Melco  0200.HK , MGM China  2282.HK , Wynn Macau
 1128.HK , Sands China  1928.HK  and Galaxy  0027.HK  also fall
between 0.6% and 2.3% 
    ** Alvin Chau, who is also the founder of Suncity - a junket
operator that brings in high rollers to play at casinos, was
arrested by Macau police on Sunday  urn:newsml:reuters.com:*:nL1N2SJ08Z urn:newsml:reuters.com:*:nL1N2SK01P
    ** Suncity stock plunged 47.8% to HK$0.133, the lowest since
listing in February 2007; the second biggest percentage decliner
on the Hong Kong bourse
    ** Suncity's unit Summit Ascent Holdings  0102.HK  dropped
as much as 50.5% to HK$0.24, its worst day ever on record; and
was the biggest daily percentage decliner on the Hong Kong
bourse 
    ** Hang Seng Commerce & Industry Index  .HSNC  slides 0.9%,
and the benchmark index  .HSI  eases 0.8%

    ($1 = 7.7984 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))