HONG KONG Aug 7 Hong Kong shares finished near
two-week lows on Thursday, weighed down by an underperforming
Macau gambling sector which was hurt by disappointing July
The Hang Seng Index slumped 0.8 percent to 24,387.56
points. The China Enterprises Index of the leading
offshore Chinese listings in Hong Kong was off 0.9 percent.
Gambling stocks were some of the heaviest hit after Deutsche
Bank lowered third-quarter and full-year revenue forecasts for
the sector this year, citing softer VIP volume and slower growth
for mass table revenue last month.
Also aggravating investors' concerns is a labour shortage
the operators are facing as they rush to build more casinos.
Labour strains look set to intensify with workers demanding
higher pay and threatening strikes.
Galaxy Entertainment Group and Sands China
led losses on the Hang Seng, diving 6.4 and 5.8
percent, respectively. Some other casinos shed between 3 percent
and 8 percent.
Chinese internet giant Tencent slid 3.5 percent on
new rules that put more restrictions on its messaging app
(Reporting by Grace Li; Editing by Jacqueline Wong and Richard