cut

Casino stocks have plunged following a report in the South China Morning Post that in China's latest crackdown on capital outflows, Beijing is cutting in half the amount of money account holders of China UnionPay can withdraw from ATMs in Macau, the world’s largest gambling market. 

The Monetary Authority of Macau’s ATM withdrawal cut is understood to be a reaction to attempts by illicit money movers to circumvent Beijing’s move at the beginning of this year to cap at 100,000 yuan (HK$112,600) the annual amount that UnionPay card holders could withdraw.