MGM - Macau stocks gain as investors eye potential shift in China's zero-tolerance COVID policy

Las Vegas Sands (LVS +5.1%) gained the most of any consumer stock in the S&P 500 Index after the emergency approval of the Pfizer antiviral pill is seen by analysts and investor as an indication that the zero-tolerance COVID policy in China could be lifted after the Olympics. The emergency approval is the first China has given to a COVID-19 drug or vaccine developed by a foreign country, according to Bloomberg. Wynn Resorts (WYNN +1.7%) and Melco Resorts & Entertainment Limited (MLCO +5.3%) also showed gains following the development. Jefferies noted earlier today that Macau daily revenue for the week ending February 13 improved from the prior week, although a choppy recovery is still a distinct possibility. The firm also has reasoned that an impending SARs CoV2 outbreak in Hong Kong could provide a catalyst for China to open up and move away from its zero- COVID strategy as a

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Macau stocks gain as investors eye potential shift in China's zero-tolerance COVID policy