Stocks rise on report of relaxed visa rules

Wynn Resorts Ltd., MGM Resorts International and Las Vegas Sands Corp. rose on reports that China is easing restrictions on local tourists visiting Macau.
Travelers holding mainland China passports can now stay seven days in Macau, up from five days currently, the official Xinhua News Agency reported.
The government shortened the permitted stay last year in response to what was believed to be widespread cheating on the part of visa holders who claimed to be visiting another destination while only staying in Macau.
Wynn Resorts rose 4 percent to USD97.70 at 11:50 a.m. in New York. MGM Resorts gained 3.6 percent and Las Vegas Sands added 3.6 percent. Christopher Palmeri, Bloomberg

Categories Macau