Soft property market in China will hurt Macau: Nomura

Hong Kong

FOR those wondering whether to raise or lower bets on Macau's VIP gaming business, look no further than China's real estate market.

According to Nomura Holdings Inc's analyst Richard Huang, the two markets are "strongly correlated" and a series of property tightening measures in the mainland will dampen the industry that has just recently begun to recover from three "brutal" years.