DOW JONES NEWSWIRESShares of Macau casino stocks rose sharply Monday morning, after the Macau government’s easing of Covid-19 policies boosted hopes of a sooner-than-expected return to normal. Galaxy Entertainment Group Ltd. Wynn Macau Ltd. and SJM Holdings Ltd. advanced between 9.1% and 13%. The casino sector’s gains came after news over the weekend that Macau is set to resume issuing electronic visas and allowing Chinese group tours around late October or early November. Analysts said the easing came earlier than expected and could facilitate a faster return of Chinese visitors to Macau. “Now that Macau has a clear roadmap to recovery, this neglected sector should recapture investors’ attention,” Citi analysts said in a note.

Source: Wall Street Journal September 26, 2022 07:34 UTC