HSBC Research: Strengthening infrastructure and expanding visa arrangements between Zhuhai/Hengqin and Macau are long-term bullish factors. Preferring mgm resorts international (02282.HK) and Sands China (01928.HK).
HSBC research released a research report indicating that data shows Macau's total gambling revenue in November was approximately 18.4 billion patacas, exceeding the bank's previous forecast of 17.5 billion to 18.3 billion patacas. The daily average for November was about 0.615 billion patacas, with the average revenue improving to 0.641 billion patacas in the last 13 days compared to 0.594 billion patacas in the first 17 days. This is believed to be driven by the Macau Grand Prix and improvements in high-end mid-range revenue. HSBC research noted that although November's gambling revenue fell by 11% month-on-month, this decline narrowed compared to the historical average drop of about 14%, and it is anticipated that Macau's continued hosting of diverse non-gambling activities will help offset seasonal effects.
Daily Bull and Bear | The latest bull-bear ratio of the Hang Seng Index is 56:44; nongfu spring surged over 8%, with multiple subscription certificates earning over 80%.
At the close of the market, the total trading volume of the stock market was 146.099 billion Hong Kong dollars; the total trading volume of all warrants and callable bull/bear contracts was 13.708 billion Hong Kong dollars, accounting for 9.4% of the total market turnover, of which the bull positions accounted for 5.5%, and the bear positions accounted for 3.9%.
Express News | ubs group: Macau's November gaming revenue exceeds expectations, with Sands China as the industry favorite.
Consumer potential has been validated by data! Hong Kong stock tourism concept stocks have been popular for several consecutive days, with meilan airport rising nearly 13%.
① Hong Kong stocks in the travel concept sector have been popular for several days; what bullish factors are driving the sector's trends? ② The potential for travel consumer spending has been validated; how do institutions view it?
The Hengqin Light Rail Line opened today. Macao Light Rail: Helping Macao actively integrate into the one-hour living circle of the Greater Bay Area.
"Macau Radio" reported that the Macau Light Rail Hengqin Line officially started operation today (2nd), with a total length of about 2.2 kilometers, featuring two stations, "Lianhua Station" and "Hengqin Station", with a travel time of about 2 minutes and a train every 6 minutes. The chairman of the Macau Light Rail Company's board of directors, He Jiangqi, stated that the opening of the Hengqin Line signifies the connection of rail transportation between the two places, making it more convenient for integration and exchange, assisting Macau in more actively integrating into the 1-hour living circle of the Greater Bay Area of Guangdong, Hong Kong, and Macau. He also mentioned that the Macau Light Rail Company will do its best to operate the Hengqin Line, continuously optimize and improve service quality, strengthen safety management, and ensure that passengers enjoy a comfortable travel experience, contributing more to public mass transportation."
In 'Major Banks', there is a slight decrease in the forecast for next year's gaming revenue and EBITDA of the Macau gaming industry, with Sands China (01928.HK) and Silver Entertainment (00027.HK) as the top picks.
Lyon published a research report indicating that considering the signs of slowing endogenous growth of daily gambling revenue in Macau this year, the projected annual gambling revenue for Macau for this year and next has been revised down by 1%. It is forecasted that in 2025, gambling revenue will increase by 4% year-on-year to 235.8 billion Macanese Patacas, and the growth rate is expected to rebound to 10.4% in 2026, reaching 260.2 billion Macanese Patacas. Lyon also lowered the adjusted EBITDA forecasts for the Macau gambling industry for 2025 and 2026 by 2.5% and 4% respectively, to growth rates of 8% and 10.2%. The firm maintains its investment ratings for the seven gambling operators unchanged, with Sands China (01928) as the top pick for next year.