Dow Today – Casino stocks in Hong Kong continue slide amid regulatory fears
SINGAPORE — Shares in major Asia-Pacific markets mostly slipped in Thursday trade, with casino shares in Hong Kong mostly seeing another day of sharp losses.
Shares of Wynn Macau in Hong Kong dropped 5%, Sands China fell 6.65% and Melco International Development shed 4.47%. Meanwhile, Galaxy Entertainment Group gained 1.4%. Those moves followed a Wednesday plunge for casino stocks as Macao kicked off a public gaming consultation.
The broader Hang Seng index in Hong Kong shed 1.97%. In mainland China, the Shanghai composite fell 0.68% while the Shenzhen component declined 1.258%.
Elsewhere, the Nikkei 225 in Japan slipped about 0.8% while the Topix index fell 0.51%. South Korea’s Kospi edged 0.74% lower.
In Australia, the S&P/ASX 200 advanced 0.53%.
Australia’s unemployment rate decreased to 4.5% on a seasonally adjusted basis in August, data released Thursday showed, lower than the 4.9% forecast in a Reuters poll. Still, the Australian Bureau of Statistics attributed the decline to a “large fall in participation during the recent lockdowns” rather than strengthening labor market conditions.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.84%.
Looking ahead, U.S. jobless claims data is set to be released on Thursday, with economists polled by Dow Jones expecting a total of 320,000 Americans filed for unemployment insurance in the week ended Sept. 11.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.518 as it struggles to recover after declining from above 92.8 earlier in the week.
The Japanese yen traded at 109.29 per dollar, stronger than levels above 110 seen against the greenback earlier this week. The Australian dollar changed hands at $0.7324, still off levels above $0.735 that were seen earlier this week.
Oil prices were higher in Asia’s afternoon trading hours. International benchmark Brent crude futures climbed 0.24% to $75.64 per barrel and U.S. crude futures gained 0.25% to $72.79 per barrel.