Sands China, Galaxy shares fall on casino downgrade

Tuesday, March 05, 2019

Casino stocks fell today after JPMorgan Chase gave a cautious outlook on the sector and downgraded Galaxy Entertainment (0027) and Wynn Macau (1128) to "neutral" from "overweight.''

Shares of Sands China (1928) fell by 2.8 percent to HK$38.15, Galaxy Entertainment dropped 2.48 percent to HK$54.95, becoming the two biggest losers in the morning session among the blue chips. Wynn Macau slid by 2.71 percent to HK$19.4.

Truly International (0732), liquid crystal display products and electronic consumer manufacturer and seller, surged 10.71 percent to HK$1.55, after posting a 15.68 percent year on year growth in February turnover.