Asia Pacific World

Coronavirus Live Updates: China Now Has More Cases Than It Had of SARS

China’s travel restrictions and expanding screenings at airports around the world have also hurt business. American Airlines stock fell more than 5 percent on Tuesday.

Hotels and resorts with properties in the affected areas, which include Macau, a special administrative region and gambling mecca, also saw the value of their shares sink. They include Wynn Resorts, Las Vegas Sands and MGM Resorts International.

Marriott, Hyatt and Hilton, which have several properties in China, also saw their stock prices slide.

Other brands that are popular in China, like Estee Lauder, Nike and Tapestry, which sells Coach, Kate Spade and Stuart Weitzman, are likely to see a dent in earnings, bank analysts said.

China is the world’s second largest economy.

Reporting was contributed by Chris Buckley, Russell Goldman, Elaine Yu, Raymond Zhong, Austin Ramzy, Alexandra Stevenson, Sui-Li Wee, Miriam Jordan, Paul Mozur, Knvul Sheikh, Katie Thomas, James Gorman, Motoko Rich, Ben Dooley, Makiko Inoue, Eimi Yamamitsu, Patricia Cohen, Donald G. McNeil Jr. and Karen Zraick. Zoe Mou, Albee Zhang, Amber Wang, Yiwei Wang and Claire Fu contributed research.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *