Market Update
Sands China Ltd, a leading integrated resort development company in Macao, has reported a positive trend in the market. The company’s stock price has increased, following a broader market rally in Hong Kong.
The Hang Seng Index (HSI) rose 1.9% to a new high, driven by strong performances from various sectors, including technology and finance. Key contributors to the rally include:
- Technology sector
- Finance sector
Macau Gaming Revenue
JPMorgan has predicted double-digit growth in Macau’s gaming revenue (GGR) for June, exceeding expectations. This positive development is attributed to above-seasonal demand, indicating a potential inflection point after over a year of disappointing trends.
Industry Impact
As a result of the positive market trend, investors are reassessing the valuation of Macau casinos, with Sands China being a key player in the industry.