Gambling stocks take a plunge in Hong Kong

Stocks of Wynn Macau, SJM Holdings and Galaxy Entertainment suffered losses after Hong Kong stocks closed 0.91 percent lower on Monday.

Gambling companies suffered losses after Hong Kong stocks closed 0.91 percent lower on Monday.

Wynn Macau dropped 4.6 percent to $1.97 (HK$15.28), while SJM Holdings and Galaxy Entertainment tumbled by 2.8 percent to $1.13 (HK$8.75) and $4.48 (HK$34.70), respectively.

The Hong Kong Stock Exchange (HKEx) attributed the fall to investors reacting to data that showed a manufacturing decline in China. According to the Wall Street Journal, China’s final measure of factory activity slumped to a two-year low on Monday, which added to the investors’ faltering faith in Beijing’s commitment to rescue the stock market.