China: Melco Resorts & Entertainment, HKEX, Agile Property Holdings, Hopson Development and more

• By many standard measures, Melco Resorts & Entertainment shares appear to be either fully or overvalued even at its pandemic beaten down price of $US6.94.
• A discounted cash flow analysis revealed a negative -US($1.18) intrinsic value. But the calculation is based on assumed path of pandemic too difficult to predict accurately.
• The company had a pre-pandemic  Macau market share of over 16%. It is among the leaders in Manila’s entertainment zone, and expects its Cyprus property to open by Dec. 2022

• The bailout of Chinese billionaire’s nickel short position has received overwhelm backlash over LME’s credibility and China’s interference on global market. Nickel future trading continued to be choppy. 
• HKEX (388 HK) first 3-month average daily turnover is down 35% year-over-year due to pandemic outbreak in HK and lower IPO activities, but March trading activities have rebounded from February. 
• HKEx revealed New Digital Assets Marketplace “Diamond” in its corporate day in March, which will feature atomic settlement, multi-asset trading, use of Smart Contracts and cloud-based infrastructure.

The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments, top and bottom performers, rating actions, as well as a list of bond maturities in the next seven days.

The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments, top and bottom performers, rating actions, as well as a list of bond maturities in the next seven days.

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. China Hongqiao
2. Times China
3. China Jinmao Holdings
4. Guangzhou R&F Properties
5. Sunac China Holdings

and more…

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. China Hongqiao
2. Times China
3. China Jinmao Holdings
4. Guangzhou R&F Properties
5. Sunac China Holdings

and more…