Hong Kong Exchanges & Clearing Ltd. surged the most in five years after a deal to link Shanghai and Hong Kong markets that gives Chinese investors unprecedented access to Macau casino stocks and Tencent Holdings Ltd.
Chinese investors will get unprecedented access to Macau casino stocks and Tencent Holdings Ltd. through an agreement to link Shanghai and Hong Kong markets that analysts say will shrink valuation gaps.
Melco Crown Entertainment Ltd. plans to lure 8,000 people to work at its third casino resort in Macau by offering competitive pay and management scholarships amid record-low unemployment rates in the city.
Galaxy Entertainment Group Ltd., the Macau casino operator that made Lui Che-woo Asia’s second- richest person, fell the most in more than a week in Hong Kong after reporting earnings that missed estimates.
Asian stocks fell, with the regional gauge retreating after yesterday posting its biggest advance in almost two weeks, as investors weighed company earnings and awaited the Federal Reserve’s policy statement.