Hong Kong shares end at 2-week low as Macau casinos tumble

jueves 7 de agosto de 2014 04:07 GYT

HONG KONG Aug 7 (Reuters) - Hong Kong shares finished near two-week lows on Thursday, weighed down by an underperforming Macau gambling sector which was hurt by disappointing July revenue.

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 WeChat. (Reporting by Grace Li; Editing by Jacqueline Wong and Richard Borsuk)