NAGACORP (03918) fell more than 4% in afternoon trading, with shares down 3.39% to HK$5.13 at the time of writing, recording a turnover of HK$22.83 million. The decline comes as tensions persist along the Cambodia-Thailand border, prompting the Chinese Embassy in Cambodia to issue safety advisories for Chinese citizens near the area.

Reports emerged on December 10 that a casino zone in Oddar Meanchey Province, Cambodia, was hit by artillery fire, resulting in injuries to Chinese nationals. The Chinese Embassy is actively verifying the situation.

Meanwhile, Goldman Sachs recently upgraded NAGACORP from "Neutral" to "Buy," citing confidence in the company's sustained growth in gross gaming revenue and EBITDA. The bank highlighted the operational launch of the new Techo International Airport, which has significantly boosted passenger capacity.

Flight data shows strong recovery in Phnom Penh-bound traffic, with overall Q4 arrivals up 10%–15% year-on-year, while Chinese routes surged 40%–50%. Additionally, Cambodia has implemented a visa-free trial policy for Chinese travelers, further supporting tourism recovery.