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☆ Time to invest in China? The pros weigh in on what sectors and stocks to play right now
▼ + stars: | 2023-11-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +5 min

Chinese stocks too have done poorly. 'High confidence in the tradable value' While the Chinese economy "is not very strong," Wong has "high confidence in the tradable value," of Chinese stocks. Stocks to play Goldman is overweight on several sectors including online retail, media/entertainment, tech hardware, health care equipment and services and food & beverage. Other stocks the investment bank sees outperforming "as the China growth story evolves" include internet services provider NetEase , technology hardware manufacturer Xiaomi , and manufacturing conglomerate BYD . China-focused ETFs Elsewhere, Saxo's Wong has his eye on the new infrastructure (such as 5G technology), industrial technology and agricultural technology themes.

Persons: Redmond Wong, Wong, Goldman Sachs, Stocks, Goldman, Saxo's Wong, — CNBC's Michael Bloom, Clement Tan Organizations: Shenzhen Component, Saxo, CNBC, National Bureau of Statistics, Tech, Baidu, Galaxy Entertainment, Mining, China Resources Beer, Miniso, Hong Kong Exchange, CSI Agriculture, CSI 5G Communications, CSI Technology, Enterprises Locations: Shenzhen, China, Taiwan, India, South Korea, Brazil, Mexico

☆ A China fund from Fidelity is beating the crowd. How it plans to keep doing it
▼ + stars: | 2023-09-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Fidelity's China Focus Fund is setting up for another year of outperformance, after ranking first last year among China equity funds tracked by Morningstar. With minimal losses of 0.66% for the year as of Aug. 31, the China Focus Fund has held up far better than the China equity category's decline of 9.45% during that time, according to Morningstar. The China Focus Fund is a "value contrarian strategy," said Catherine Yeung, a Hong Kong-based investment director focused on equities at Fidelity International. Consumer discretionary is the largest sector within the China Focus Fund's holdings, at about one-fourth of the names. Fidelity also has a dedicated China Consumer Fund, which is down by 8.75% year-to-date, only slightly better than its peers, according to Morningstar.

Persons: outperformance, Morningstar, Catherine Yeung, Yeung, hasn't, it's Organizations: Fund, Morningstar, China Focus, China, Fidelity International, CNBC, China Focus Fund, Galaxy Entertainment, Fidelity, China Consumer Fund Locations: China, Hong Kong, expansionary, Macau

☆ Macau's May casino revenue soars 366% year on year on visitor influx
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

China lifted strict COVID-19 restrictions in January, allowing visitors to swarm into Macau for the first time in more than three years. A general view shows casinos and hotels in Macau, China February 5, 2020. Sands last week officially opened its "Londoner" casino resort which includes a 6,000 seat arena and attractions like a replica of London's Big Ben clock tower. It was the first big casino opening since the COVID pandemic and was attended by former England football captain David Beckham who drew scores of fans to the property. ($1 = 8.0840 patacas)Reporting by Farah Master; Editing by Tom Hogue & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, David Beckham, Farah Master, Tom Hogue, Simon Cameron, Moore Organizations: Labour, REUTERS, Sands, HK, Wynn, MGM, SJM Holdings, Galaxy Entertainment, Melco, England, Thomson Locations: HONG KONG, Macau, China, Sands China, Wynn Macau, MGM China, Sands

☆ Chinese tourists flock to gambling hub Macau for Labour Day holiday
▼ + stars: | 2023-04-30 | by ( Joyce Zhou | ) www.reuters.com time to read: +3 min

[1/5] A view of visitors in front of the ruins of Saint Paul's during Labour Day holiday in Macau, China, April 30, 2023. REUTERS/Lam YikMACAU, April 30 (Reuters) - Hundreds of thousands of mainland Chinese visitors have descended on the world's biggest gambling hub of Macau for the Labour Day holiday, packing tightly into its narrow cobblestone streets and placing bets in its glitzy casinos. Coco Li, a 42-year-old woman from Hubei province who was visiting with her husband, said they chose to come to Macau because travel rules had relaxed. "We've been actively working with the Macau government on our labour requirements," the company said. Reporting by Joyce Zhou in Macau; Writing by Farah Master; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ JPMorgan says Hong Kong shares to rebound in February and names 5 stocks to own
▼ + stars: | 2023-02-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

JPMorgan named five stocks it recommends to buy amid an expected rise in the broader Chinese stock market during February. The investment bank said it "remains bullish" on Macao casino operator Sands China and Galaxy Entertainment , and Hong Kong retail landlords Wharf REIC , LINK and Fortune REIT . Strategists at the Wall Street bank attributed last week's sell-off in Hong Kong listed shares as profit-taking by some investors. They also said the broader market rotate into "quality laggards in consumption as well as value cyclical and growth spaces." However, JPMorgan's Kim said analysts' expectations are due to jump higher on the positive data points.

☆ Macau casino revenues surge in Jan after COVID rules lifted
▼ + stars: | 2023-02-01 | by ( Farah Master | ) www.reuters.com time to read: +3 min

Still investors took cheer, sending shares in Macau casinos up between 3% to 5%, while executives and analysts said it was an encouraging sign of a solid recovery to come. A special administrative region of China, Macau has seen a resurgence of tourists from the mainland since Jan. 8 after the territory dropped all COVID-19 testing requirements for inbound travellers from the mainland, Hong Kong and Taiwan. January's revenues were the first for Sands China (1928.HK), Wynn Macau (1128.HK), MGM China (2282.HK), Galaxy Entertainment (0027.HK), MGM China (2282.HK) and SJM Holdings (0880.HK) under new 10-year contracts. Visitors pose for photos outside the Grand Lisboa casino operated by SJM Holdings during Lunar New Year in Macau, China, January 24, 2023. REUTERS/Lam Yik/File PhotoThe new contracts, with more government oversight and control, were struck after COVID-19 restrictions decimated Macau's gambling revenues and sent net debt soaring.

HONG KONG, Jan 19 (Reuters Breakingviews) - Macau is bounding into the Year of the Rabbit. Meanwhile arrivals from China and Hong Kong reached roughly 40% of 2019 traffic as of Jan. 13, per Morgan Stanley. That is remarkable given the mainland and Macau only relaxed restrictions less than two weeks ago. Melco Resorts & Entertainment , MGM China (2282.HK), Sands China (1928.HK) and Wynn Macau (1128.HK) have seen their leverage ratios swell. Ultimately to rebalance borrowings, Macau needs returning visitors to spend as much – or more – as they did in the past.

☆ Macau court sentences junket mogul to 18 years in jail
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

Alvin Chau was chairman of Macau's Suncity junket operator - which brokered the gambling activity of Chinese high rollers - until December 2021, a month after his arrest. Macau is the only city in China where citizens are permitted to gamble in casinos. Junket operators help facilitate gambling for wealthy Chinese in Macau, extending them credit and collecting on their debt on behalf of casino operators. That year, Macau casinos generated $36 billion in revenue. The junket industry has collapsed in the former Portuguese colony since Chau's arrest, with all of Suncity's VIP rooms shuttered.

☆ Analysis: Macau casinos deal themselves a tough hand with big non-gaming investment pledges
▼ + stars: | 2023-01-03 | by ( Farah Master | ) www.reuters.com time to read: +5 min

But their 10-year, shortened contracts come at a time when COVID-19 restrictions have decimated Macau’s gambling revenues, with 2022 the worst annual performance on record. Non-gaming revenues, which averaged around 5% of overall gaming revenues pre-COVID, must grow to more than 30% in the next decade, said Ben Lee, founder of Macau gaming consultancy IGamiX. Macau, a densely packed territory located on China’s southern coast, is the only place in the country where gambling in casinos is legal. Increased regulatory oversight comes as Macau casinos face much higher debt levels versus 2019. Macau has few direct flights from potential markets outside China, while transport within the city is limited to move large groups of people around, said David Green, head of Macau gaming consultancy Newpage.

☆ Casinos in Macau, the Vegas of the East, have managed to renew crucial gaming licenses. But there's a hefty catch — they need to pump in $15 billion into non-gaming sectors.
▼ + stars: | 2022-12-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Macau's six casino operators pledged to invest nearly $15 billion in non-gaming sectors. In return for the investments, Macau's government has renewed their gaming licenses. Gaming licenses for the six major casino operators had expired back in June, throwing into question Macau's future as a gambling hub. The new 10-year gaming licenses come into effect on January 1, 2023. Among the six gaming companies, Sands China has committed to spending the most in non-gaming projects — about 27.8 billion patacas, or $3.5 billion.

☆ Macau casinos' new contracts to sharpen focus on non-gaming activities
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +3 min

The operators are expected to focus on non-gaming activities in the new term, particularly as Beijing is keen for Macau to diversify away from gambling and attract foreign tourists. Some analysts expect them to make non-gaming investments of up to $15 billion cumulatively over the next decade. Genting, with its strong non-gaming track record and mass market appeal, was a credible threat for the Macau operators, many executives and analysts have said. Previous attempts by Macau to diversify have been unsuccessful, with casino operators shying away from investing in non-gaming due to the high costs, particularly as the gambling industry was far more lucrative. Macau's gambling industry currently accounts for more than 80% of government revenues.

☆ Three pharmaceutical stocks were last week's top performers — and analysts gave one 40% upside
▼ + stars: | 2022-12-05 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Global stocks rose last week, tracking U.S. stocks as Wall Street's major indexes closed with weekly gains. The MSCI World index was up about 1% over the week, and all three U.S. indexes also set weekly gains , with the Nasdaq posting the largest increase. Pharmaceutical stocks had a good week, with three — Horizon Therapeutics , Catalent and Alnylam Pharmaceuticals — making big gains. Of all three, Catalent got the highest upside (40%) from analysts — getting a buy rating from 56% of those covering the stock. U.S. media and internet company IAC was one top weekly performer, with the highest upside given by analysts — at 60%.

☆ Chinese stocks rally on reopening hopes; Morgan Stanley upgrades to overweight
▼ + stars: | 2022-12-05 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

The Hang Seng TECH Index, which represents the 30 largest technology companies listed in Hong Kong, surged 8% in Asia's trade. Electronic vehicle-maker Xpeng gained 24%, leading gains for the broader index, Li Auto jumped 12% and Nio climbed more than 15%. The Hang Seng index rose 4% while China's CSI 300 index, which tracks the largest largest mainland-listed stocks, rose almost 2%. Hong Kong-listed casino operators also saw significant gains, with MGM China rising 19%, Wynn Macau climbing 16% and Sands China adding 13%. Morgan Stanley upgrades to overweight

☆ American Casino Giants Win 10-Year Macau License Renewals
▼ + stars: | 2022-11-26 | by ( Elaine Yu | Katherine Sayre | ) www.wsj.com time to read: 1 min

HONG KONG—Six casino operators in Macau won provisional licenses to continue operating in the Chinese gambling hub for the next 10 years, the local government said, while rejecting a bid from an outsider to enter the market. The winning companies include affiliates of three American casino giants, Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd. The licenses of three local rivals were also renewed. They are held by Galaxy Entertainment Group , SJM Holdings Ltd. and Melco Resorts & Entertainment Ltd.

☆ Six Macau Casino Operators Win New 10-Year Licenses
▼ + stars: | 2022-11-26 | by ( Elaine Yu | Katherine Sayre | ) www.wsj.com time to read: 1 min

Six casino operators in Macau won provisional licenses to continue operating in the Chinese gambling hub for the next 10 years, the local government said, while rejecting a bid from an outsider to enter the market. The winning companies include affiliates of three American casino giants, Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd. The licenses of three local rivals were also renewed. They are held by Galaxy Entertainment Group , SJM Holdings Ltd. and Melco Resorts & Entertainment Ltd.

☆ Macau's 6 casino operators get new licences, Malaysia's Genting out
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +2 min

Nov 26 (Reuters) - Macau's government said on Saturday its six incumbent casino operators would be given new licences to operate in the world's biggest gambling hub from January, with Malaysian operator Genting missing out on a spot. The highly anticipated announcement signals stability and continuity for the Macau operators who have invested more than $50 billion in the Chinese special administrative region in the past 20 years. Officials in Macau, the world's biggest casino hub, told a news briefing the main considerations for granting licences included ensuring local employment, developing overseas tourist markets and developing non-gaming projects. Sands China (1928.HK), Wynn Macau (WYNN.O), Galaxy Entertainment (0027.HK), MGM China (2282.HK), Melco Resorts (MPEy.F), and SJM Holdings (0880.HK), have operated in the Chinese special administrative region since 2002. "We are committed to Macau and its development as Asia's premier tourist destination," Lawrence Ho, chairman and chief executive of Melco, said in a statement.

☆ JPMorgan says these global travel stocks are poised to pop as China eases Covid restrictions
▼ + stars: | 2022-11-18 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +3 min

It added that the uncertain economic outlook hasn't yet eaten into leisure travel spending — with the International Air Transport Association continuing to see strong forward international air travel bookings. The bank's key picks to play the sector are Beijing Capital International Airport and Shanghai Airport. Other airline stocks that are among JPMorgan's picks include Air China and Qantas Airways . Other stocks that could take flight Apart from airport and airline stocks, China's reopening would also benefit hotels, restaurants and leisure sectors , according to a Goldman Sachs note from Nov. 6. These stocks include casino operators Galaxy Entertainment and Sands China , food chain Yum China , as well as Trip.com .

☆ Macau casinos expected to invest around $12 bln over next 10 years -media
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Nov 14 (Reuters) - Macau casino operators, vying for a licence in the world's biggest gambling hub, are expected to invest a total of around 100 billion patacas ($12.4 billion) over the next 10 years, local broadcaster TDM reported. Galaxy and Sands may invest more than 20 billion patacas each, while the others will invest less than 20 billion patacas. Altogether the total will be around 100 billion, TDM said. Negotiations with the Macau government are almost complete the broadcaster said, with the bidders having reached agreement about what each of them proposes to do over new 10-year licence term which begins in 2023. The six Macau incumbents have operated in the Chinese special administrative region since 2002, with their current concessions expiring at the end of this year.

☆ Goldman Sachs says buy these stocks ahead of a $2.6 trillion China reopening boom
▼ + stars: | 2022-11-11 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

This would be a boon for the stock market, according to Lau, who estimates that a full reopening could drive 20% upside for Chinese stocks. "While the reopening roadmap is still unclear, our reopening beneficiaries have outperformed the [MSCI China Index] by 20% since July," he said. Reopening beneficiaries The bank's list of reopening beneficiaries comprises 30 names it says are "well placed" to gain from the easing of social distancing and travel curbs. Here's what it found A third of the bank's list of reopening beneficiaries is made up of companies in the hotels, restaurants and leisure sectors. The stocks include casino operators Galaxy Entertainment and Sands China , food chain Yum China , as well as Trip.com .

☆ Macau reimposes COVID curbs with casino lockdown as infections creep up
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Authorities locked down the MGM Cotai casino resort owned by MGM China (2282.HK) on Sunday with staff and guests ordered to stay inside until Nov 1. All of Macau's 700,000 residents are mandated to take rapid antigen tests daily during the period, the government said. The casino closure deals a blow to operators who have already been grappling with China's "zero COVID" restrictions for more than two and a half years, losing millions of dollars monthly. Shares in Hong Kong-listed Galaxy Entertainment (0027.HK) and Wynn Macau (1128.HK) dropped more than 3% early in Monday's session but later reversed course to trade in positive territory. Macau casino executives also said a decision on new licences could come as early as this week.

☆ China residents able to travel to Macau using e-visa from Nov 1
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Oct 31 (Reuters) - China's immigration bureau said mainland residents will be able to travel to Macau from Nov. 1 using an online visa system rather than in-person applications, a move that could increase travel to the world's largest gambling hub. Authorities locked down the MGM Cotai casino resort owned by MGM China (2282.HK) on Sunday with staff and guests ordered to stay inside until Nov 1. All of Macau's 700,000 residents are mandated to take rapid antigen tests daily during the period, the government said. Macau's six casino operators - Sands China (1928.HK), Wynn Macau (WYNN.O), Galaxy Entertainment (0027.HK), MGM China, Melco Resorts and SJM Holdings (0880.HK) - are currently awaiting a government decision on whether they will be granted new licenses. Reporting by Farah Master and Beijing newsroom; Editing by Kim Coghill and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Macau's MGM Cotai casino locked down after dealer COVID case - media
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Oct 30 (Reuters) - Macau's MGM Cotai casino, operated by MGM China (2282.HK), was locked down on Sunday morning after a dealer was found to be infected with COVID-19 in the world's biggest gambling hub, local publication Inside Asian Gaming reported. The closure deals a blow to casino operators who have already been grappling with COVID restrictions for more than two and a half years. Government health workers were at the MGM Cotai site with noone allowed to enter or exit the building, Inside Asian Gaming said. All of Macau's 700,000 residents must take a rapid antigen test for COVID daily from Oct. 30 to Nov. 1, Macau's government said in a statement that made no mention of the MGM closure. Macau's six casino operators - Sands China (1928.HK), Wynn Macau (WYNN.O), Galaxy Entertainment (0027.HK), MGM China, Melco Resorts and SJM Holdings (0880.HK) - are currently awaiting a government decision on whether they will be granted new licenses.

They accounted for 71% of arrivals before the pandemic, with another 19% coming from Hong Kong, according to the tourism board. Register now for FREE unlimited access to Reuters.com RegisterCasinos have supported heady growth since 2002 when Macau opened the market to multiple operators. Macau’s tiny population of 680,000 was nearly 70% richer on a per capita basis than their peers in Hong Kong, per the International Monetary Fund. But their collective enthusiasm masks an awkward reality: Macau’s dependence on the gambling industry looks increasingly fraught. Gaming revenue, which peaked at $45 billion in 2013, has never recovered from the blow to VIP business, sinking to $36 billion by 2019, per Macau’s Gaming Inspection and Coordination Bureau.

☆ Macau casino operators soar as China allows tour groups after nearly 3 years
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

A woman rest next to the decoration inside the Wynn Palace casino resort in Macau, China December 20, 2019, on the 20th anniversary of the former Portuguese colony's return to China. Sands China (1928.HK) rose more than 13%, Wynn Macau (1128.HK) climbed 7%, Galaxy Entertainment (0027.HK) advanced 10% while shares of SJM (0880.HK) and MGM China (2282.HK) jumped 8% each. Currently, Chinese tourists to Macau need to book a visa appointment followed by a week-long approval process. The individual visa scheme accounted for around 50% of Chinese visitors to Macau in 2019 while tour groups accounted for around 25% of visitation. In the first phase, the resumption of tour groups will come from five provinces -- Guangdong, Shanghai, Zhejiang, Jiangsu and Fujian -- which represented almost 60% of mainland visits to Macau in 2019.

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