Macao gaming stocks fell heavily in Hong Kong yesterday after the former Portuguese colony announced fresh restrictions on visitors from the Chinese mainland many of whom visit the self-governing territory in order to gamble.

The decision contributed to a 6.9 per cent fall in the share price of casino group Melco, controlled by Lawrence Ho, son of billionaire tycoon Stanley Ho, and a 6.1 per cent drop in Galaxy Entertainment. Melco and Galaxy have each fallen nearly 60 per cent this year.