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Soochow Securities (Hong Kong): The market is concerned about changes in market share in the gambling market in the second quarter, bullish on Galaxy Ent (00027), Sands China (01928), etc.
Soochow Securities (Hong Kong) is bullish on Sands China's (01928) performance and expects a turnaround in the third quarter.
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.
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.
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.
Is Galaxy Entertainment Group Limited (HKG:27) Trading At A 26% Discount?
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.
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