In today’s briefing:
- Japan Weekly | Stocks Lower
- Signs Abound that Asia Gaming Gaining Strength Despite China Macro Woes
Japan Weekly | Stocks Lower
- Indiscriminate selling of Japanese stocks with only 10% of stocks up on the week – Topix -3% lower week-on-week
- Lots of scary headlines with US mortgage rates hitting 20 year highs and China’s real estate sector imploding
- We highlight the stocks that have been moving in the market this week
Signs Abound that Asia Gaming Gaining Strength Despite China Macro Woes
- Decline in China economy has tinted investor views into the Asian casino sector. But valuations are attractive.
- GGR continues to gain but high youth unemployment blemishes estimates of the return of younger demos who comprise a key segment of Macau visitors.
- Strong entry points for Wynn Macau and Sands China persist, but investors still appear to be hesitant to enter the sector until more visible signs of China recovery begin.
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