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Hong Kong stocks movement丨Casino stocks remain active, and the Macau Gambling industry's performance during the May Day holiday is strong.
Hong Kong stocks related to gaming continue to rise, among which, MELCO INT'L DEV increased by over 3%, marking a three-day gain of nearly 15%. Sands China rose by nearly 2%, with MGM CHINA, SJM HOLDINGS, WYNN MACAU, and GALAXY ENT also following suit.
Macau Invest, Promotion and Development Bureau: The goal this year is to increase the number of international attendees at conferences and exhibitions by 15%.
Yu Yusheng from the Macao Trade and Investment Promotion Institute stated that this year's exhibition area has increased by about a quarter compared to last year, and many non-gambling elements have been added, reflecting that international large-scale exhibition companies have confidence in the Macao market, which is consistent with the direction of increasing non-gambling elements in the Macao economy.
Hong Kong Stock Midday Review | All three indexes rise, the Tech Index rises nearly 2%; tech stocks and Mainland Real Estate stocks strengthen, Baidu rises over 5%, RADIANCE HLDGS surges over 43%.
Most Network Technology stocks rose, with Baidu Group-SW up 5.33% and NTES-S up 3.41%; Macau Casino stocks generally rose, with MELCO INT'L DEV up 8.94% and SANDS CHINA LTD up 4.85%; Mobile Game stocks generally rose, with Bilibili-W up 3.69% and NTES-S up 3.41%.
Macau Seen to Experience Budget Deficit Should Gambling Revenue Fall, Chief Executive Says
Hong Kong stocks have shown unusual movements | Macau Casino stocks continue to decline, MELCO INT'L DEV (00200) fell over 3%, and Morgan Stanley pointed out the short-term downside risks for Macau Casino stocks.
Macau Casino stocks continue to decline. As of the time of writing, MELCO INT'L DEV (00200) is down 3.44% at 3.37 HKD; Sands China (01928) has dropped 2.74% to 12.8 HKD.
Hong Kong stocks volatility | Macau Casino stocks fell across the board, GALAXY ENT (00027) dropped over 4% during the session. Citigroup indicated that the slowdown in Macau's gaming revenue in April was not unexpected.
Macau Casino stocks fell sharply. As of the time of writing, GALAXY ENT (00027) is down 3.75%, priced at HKD 26.95; Sands China (01928) is down 2.98%, priced at HKD 13.02; SJM HOLDINGS (00880) is down 1.85%, priced at HKD 2.12.