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Businesswoman has reportedly banked around $86 million by selling off a 0.4% stake in the American parent of Asian casino giant MGM China Holdings Limited.
Among decliners, Snow Lake, which oversees $3.6 billion, saw its Asia-focused hedge fund drop 8.9%, said a person with knowledge of the matter. The losses were mostly driven by bullish bets that declined. Shares of Macau casino operator MGM China Holdings Ltd. slumped 12% on the month as the gambling hub reported its first Covid-19 case since June. Snow Lake is the largest independent shareholder and has been urging it to sell a 20% stake to a Chinese backer. The fund returned nearly 22% last year. A representative for Snow Lake said they couldnât comment.
WT Asset Managementâs hedge fund lost an estimated 10% on bearish wagers, said a person familiar. Thatâs after last yearâs 61% surge and a 200% gain since its 2017 inception. The fund has posted high-single digits annual gains on its short bets since it started, the person said.
Chinese video platform iQIYI-backed Strawbear makes stellar HK debut Premium
East China’s Nanjing-headquartered drama series producer and distributor Strawbear Entertainment Group on Friday made a stellar trading debut on the Hong Kong stock exchange with its shares opening 19.05% higher at HK$7 ($0.9). The stock soared 83.67% to close at HK$10.8.
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By Farah Master HONG KONG (Reuters) - Sands China Ltd's adjustment to life after the death of billionaire founder Sheldon Adelson, coming a year befor.