The best bets for Hong Kong investors have been Macau gambling stocks, Sands China Ltd.
Shares of Sands fell 6.3% in New York, while Sands China dropped almost 7% by mid-day in Hong Kong.
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Sands said the subpoena is likely to have emanated from allegations made by its former Sands China CEO, Steve Jacobs.
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Earlier this month, Sands China, opened the first phase of Sands Cotai Central, another casino resort also located on the Cotai Strip.
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While Sands China reported close to 40% growth in revenues for the first quarter, Singapore revenues declined despite a 40% increase in rolling chip volumes.
The best performer in Hong Kong was gambling company Sands China, which climbed 2.4%, after Macau's government gave it a three-year extension to complete a key project in the gambling hub.
The Sands now gets nearly 90% of its operating profit from Asia, including from a casino resort in Singapore and Hong Kong-listed joint venture Sands China, which has three resorts in Macau.
The Sands Cotai Central, a casino resort, is scheduled to open in 2012 with 300, 000 square feet of gaming space and 5, 800 rooms from Holiday Inn, Sheraton and Conrad, said Mabel Wu, senior press officer at Sands China.
Mattek-Sands followed up her win over China's 2011 champion Li Na by beating Argentine qualifier Paula Ormaechea 4-6 6-1 6-3 to reach the last 16 for the first time, equaling her best showing in a grand slam.
All this is said to bode ill for such U.S. stocks with serious China exposure as Las Vegas Sands, Wynn Resorts, and Yum!
The World No.5 from China beat America's Bethanie Mattek-Sands in straight sets 6-4 6-3.
For example, the State Department concluded that if Keystone XL is not built, oil sands production will be diverted to other markets (such as China), and the refineries in Texas will continue to process bitumen apace from offshore platforms.
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Other countries including China and India, are spending billions of dollars in oil sands investments, obviously with the expectation of eventually importing significant amounts of production.
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