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Typhoon Yagi, Asia's most powerful storm this year, left dozens dead in northern Vietnam and caused widespread damage to infrastructure and factories. The typhoon made landfall on Saturday on Vietnam's northeastern coast, home to manufacturing operations of domestic and foreign companies, including VinFast Auto (NASDAQ:VFS) and Apple (APL-American Lead Association) suppliers Pegatrong and USI.
Before hitting Vietnam, Typhoon Yagi caused at least 20 deaths in the Philippines last week and four deaths in southern China. Typhoon Yagi also disrupted tourism in Macau before and after its passage. Macau International Airport recorded a total of 41 flight cancellations on Thursday and another 156 flights cancelled on Friday. In addition, ferry services between Macau and Shenzhen/Hong Kong were suspended for the whole of Thursday and at least half a day on Friday. The Macau disruption will be a factor in September gross gaming revenue figures for Wynn Macau (OTCPK:WYNMF) (OTCPK:WYNMY) (WYNN), Sands China (OTCPK:SCHYY) (OTCPK:SCHYF) (LVS), MGM China (OTCPK:MCHVF) (OTCPK:MCHVY) (MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF) (OTCPK:SJMHY), Melco Resorts & Entertainment (NASDAQ:MLCO) and Studio City International (New York Stock Exchange:MSC).
