HK Stock Market Move | Gambling stocks are on the rise again, with over 100,000 visitors to Australia during the first two days of the Mid-Autumn Festival holiday. Morgan Stanley is optimistic about the performance of the Golden Week.

The gambling stocks continued to rise, as of press time, PARADISE ENT (01180) was up 2.35% at 0.87 Hong Kong dollars; SJM HOLDINGS (00880) was up 2.07% at 2.47 Hong Kong dollars; GALAXY ENT (00027) was up 1.94% at 28.9 Hong Kong dollars; MGM CHINA (02282) was up 1.93% at 10.02 Hong Kong dollars. In terms of news, data shows that on the first day of the Mid-Autumn Festival holiday on September 15, Macau recorded 125,000 inbound visitors. On the second day of the holiday, there were 124,000 visitors to Macau. A report from Morgan Stanley pointed out that it is expected that the average hotel room rate and occupancy rate during the Golden Week in October in Macau this year will be similar to the same period last year. The bank expects a daily gambling revenue of 900 million Macau dollars and a total gambling revenue of 20 billion dollars in October, which means an increase of 1% compared to the same period last year. The average room rate seems to be more robust compared to the Golden Week in May. The bank stated that the Macau Tourism Office roughly and conservatively estimates that the daily number of visitors to Macau during the Golden Week will exceed 100,000. The bank expects that Macau's mass market gambling revenue will recover to 114% to 115% of the same period in 2019.