Galaxy leads gains in Macau gaming stocks after strong Jan revenue

Sands China

01/02/2024 05:49

** Galaxy Entertainment  0027.HK  leads gains in Macau
gaming stocks, rising as much as 6.2% to HK$43.10
    ** Stock hits its highest level since Jan 8, and on course
to snap a two-session slide
    ** Stock on track for biggest one-day pct rise since
November 2022, if current gains hold; fifth biggest pct gainer
in the Hang Seng Commerce & Industry Index  .HSNC  
    ** Macau says January gambling revenue up 67% YoY to 19.3
bln patacas ($2.40 bln)  
    ** UOB Kay Hian wrote in a note last week that it expected
to see sustained growth in premium mass markets in 2024, thanks
to premium players' strong spending power and upgraded new
facilities as attractions, and Galaxy remained its top pick
    ** SJM  0880.HK , Sands China  1928.HK , Wynn Macau
 1128.HK , MGM China  2282.HK  and Melco International  0200.HK 
climb between 3.2% and 6.1%   
    ** The Hang Seng Commerce & Industry Index rises 1.5%, and
the Hang Seng Index  .HSI  adds 1%
    
($1 = 8.0510 patacas)

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