- The Macau gaming sector is higher with a new note from JPMorgan helping to tip sentiment after it called out an "inflection" point for share prices.
- The investment firm raised ratings on Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY) and Sands China (OTCPK:SCHYY, OTCPK:SCHYF), helping both stocks to gain over 7% in Hong Kong trading. JPMorgan noted mass-market revenue rose in Q3 to mark the first uptick in six quarters. The top sector pick of JP analysts is Galaxy Entertainment (OTCPK:GXYEF +1.1%).
- The shadow of Beijing still hangs over Macau stocks as plenty of debate exists on the length the government will go to relax visa restrictions and find other ways to boost tourism. Though China leader Xi Jinping is still in crackdown mode, optimists note he isn't getting in the way of new development in the gambling mecca.
- Melco Crown (MPEL +1%), Wynn Resorts (WYNN +2.9%), SJM Holdings (OTCPK:SJMHF +3.2%), and Las Vegas Sands (LVS +0.7%) are all higher on the day.