Markets Don’t Heave With Retirement of Ho
Investors seemed unfazed by the announced retirement of Hong Kong casino magnate Stanley Ho, with shares of two of his major companies seeing little turbulence Monday.
The stock price of his flagship SJM Holdings Ltd. closed down 1.7% Monday to HK$7.09 (90 U.S. cents) on the Hang Seng Index, while those for Shun Tak Holdings Ltd. were flat at HK$3.19.
Ho is stepping down as chairman and executive director of SJM after a general meeting on June 12, according to a company filing released last week to the Hong Kong Stock Exchange.
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