Wynn Resorts Ltd. and its Macau unit led declines among casino operators with resorts in the Asian gambling hub after an analyst said reduced borrowing in China may lead to a drop in bets by high rollers.
China’s benchmark stock index extended the biggest five-day rally in eight weeks as Chongqing Changan Automobile Co. led gains for consumer-discretionary shares and China Petroleum and Chemical Corp. rose. Banks fell.
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.
Hong Kong stocks fell, with the benchmark index retreating from a three-month high, as Tencent Holdings Ltd. declined after a U.S. technology selloff resumed. Hong Kong Exchanges & Clearing Ltd. soared.
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.
Australian billionaire James Packer said Melco Crown Entertainment Ltd. is looking for partners to build casinos in Japan should the country legalize gambling resorts and would consider listing the venture.