Melco Crown Entertainment Rebounds After No Change In ATM Withdrawal Limits

Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL) shares are trading higher by $0.58 at $17.45 in Friday's session. The issue swooned late in the day on Thursday when it was reported that withdrawal limits in Macau may be reduced by the government.

As a result, the issue fell from its close on Wednesday ($19.55) to end Thursday's session at $16.87.

Upon the clarification that there was no change in the withdrawal limits before the open, the issue responded with a higher open. However, it rallied only another $0.16 to $18.40 before falling back into the mid $17 handle.

At last check, shares were up 1.66 percent at $17.15.