Gaming companies stocks rise in HK

2014-4-2

From：Macau Daily Times

Hong Kong stocks rose, with the city’s benchmark index climbing to a three-week high, as casino shares led gains. Evergrande Real Estate Group Ltd. soared by most in almost six months after profit beat estimates.
Sands China Ltd. and Galaxy Entertainment Group rose the most on the Hang Seng Index after data showed Macau’s casino revenue increased 13 percent, beating analyst estimates. Evergrande surged 4.6 percent. China Merchants Holdings International Co. dropped 3.9 percent after the cargo company said it will raise as much as HKD15.4 billion (USD1.99 billion) issuing convertible securities to repay debt.
The Hang Seng Index climbed 1.3 percent to 22,448.54, the highest close since March 7. The Hang Seng China Enterprises Index, also known as the H-share index, added 0.2 percent to 10,098.28, paring gains of as much as 0.8 percent after a private Purchasing Managers’ Index showed continued weakness in the manufacturing industry.
Macau gaming companies advanced after the data from the city’s Gaming Inspection and Coordination Bureau showed casino revenue increased 13 percent from a year earlier to 35.5 billion patacas (USD4.4 billion). That compares with the median estimate of 35.4 billion patacas by seven analysts surveyed by Bloomberg. Sands China surged 9.6 percent to HK$63.50, while Galaxy jumped 7.9 percent to HK$72.80. MDT/Bloomberg

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