Shares of Macau casino
companies dropped early on Monday after gambling revenue slid
more than expected in August due to slowing economic growth,
China's trade war with the United States and protests in
neighbouring Hong Kong.
Gambling revenue in the
Chinese territory of Macau dropped 8.6% in August on the year,
hit by tapering demand from high rollers, due to slowing
economic growth amid China's trade war with the United States
and protests in neighbouring Hong Kong.
The Chinese territory of Macau is set to elect as leader the only candidate for which it is allowed to vote: a Beijing-backed former legislator who is expected to cement China's control over the special administrative region and distance it from escalating protests in neighboring Hong Kong.
American fashion brand Coach, French label Givenchy and Italian luxury brand Versace have been boycotted by some Chinese social media stars for suggesting that places like Hong Kong and Macau are separate from China.
Italian luxury label Versace
and its artistic director Donatella Versace apologised on Sunday
after one of the company's T-shirts was widely criticised on
social media in China for identifying the Chinese-controlled
territories of Hong Kong and Macau as countries.
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