MGM China leads rebound in Macau gaming stocks

LET group

03/12/2021 04:00

** MGM China  2282.HK  leads gains in Macau gaming stocks,
recovering some losses from recent sell off since the arrest of
"junket mogul" Alvin Chau  urn:newsml:reuters.com:*:nL1N2SL027 urn:newsml:reuters.com:*:nL1N2SN02X
    ** MGM Resort's  MGM.N  Macau unit, down 14.9% in the last
four sessions, rebounds 6.1% 
    ** Sands China  1928.HK , down 12.4% this week, jumps 4.3%;
while Wynn Macau  1128.HK  rises 3.2% after 19.1% slump 
    ** Melco  0200.HK , SJM  0880.HK  and Galaxy  0027.HK  climb
between 0.1% and 4.4%
    ** Brokerage Daiwa reaffirms "positive" stance on Macau
gaming sector, saying the sector is significantly oversold and
expects the recent events to accelerate the industry shift
towards mass market 
    ** Suncity, down a whopping 49.8% this week, surges 34%;
while its unit Summit Ascent  0102.HK  and Sun Entertainment
 8082.HK  jump 12.4% and 1.2%, respectively
    

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))