Hong Kong stock market turmoil | Macau casino stocks continue to decline, Macau's gambling revenue in July got off to a poor start, and cracking down on illegal "money changers" has affected investment sentiment.

Macau casino stocks continue to decline. As of press time, MGM China (02282) fell by 3.52% to HKD 11.52; Sands China (01928) fell by 2.5% to HKD 15.62; Melco Int'l Dev (00200) fell by 2.4% to HKD 4.89.

Zhitong FinanceJul 18 23:23 ET

CITIC Lyon: Latest rating and target prices for Macau gaming stocks (table), with MGM China (02282) and Galaxy Entertainment (00027) as top choices.

CITIC CLSA lowered its forecast for total gambling revenue in 2024 and 2025 to $28.6 billion and $29.7 billion, respectively.

Zhitong FinanceJul 16 03:03 ET

Hong Kong stocks are in flux | Macau casino stocks continue to be under pressure. Morgan Stanley believes that Macau's gambling revenue in July was lower than market expectations. There are no catalysts in the short term.

Macau casino stocks continue to be under pressure. As of press time, MGM China (02282) fell by 3.37% to HKD 12.04; Galaxy Entertainment (00027) fell by 1.88% to HKD 33.85; Sands China (01928) fell by 1.83% to HKD 16.12.

Zhitong FinanceJul 15 23:49 ET

Is Galaxy Entertainment Group Limited (HKG:27) Trading At A 26% Discount?

Key Insights Using the 2 Stage Free Cash Flow to Equity, Galaxy Entertainment Group fair value estimate is HK$46.56 Current share price of HK$34.50 suggests Galaxy Entertainment Group is

Simply Wall StJul 15 18:00 ET

Hong Kong stocks fluctuate | Macau casino stocks generally decline, Macau's gambling revenue in July is slightly weak, and investors are concerned about the impact of crackdown on illegal cross-border funds in Macau.

According to the news from Zhixin Finance App, the gambling stocks generally fell. As of press time, Sands China (01928) fell by 3.29% to HKD 16.46; Wynn Macau (01128) fell by 3% to HKD 6.15; Melco Int'l Dev (00200) fell by 2.65% to HKD 5.14; Galaxy Ent (00027) fell by 1.7% to HKD 34.6. In terms of news, JPMorgan research reports indicate that Macau's gambling revenue recorded MOP 3.85 billion (the same below) in the first seven days of July, or a daily average revenue of MOP 0.55 billion. This means that last week's revenue was lower than the daily average of MOP 0.59 billion in June.

Zhitong FinanceJul 14 22:59 ET

Macao's June Gross Gaming Revenue Lower Than Expected, Macquarie Says

Macao's gross gaming revenue hit 17.7 billion Macanese pataca in June, down 12% sequentially and 26% lower from the comparable 2019 period, Macquarie said in a note published on Tuesday.

MT NewswiresJul 10 05:05 ET