asiangames2038| Macau stocks such as Melco International generally fell: tourists recovered to 75.8% after the epidemic, Macau tourism picked up: inbound tourists rose 14.4% year-on-year in April, boosting the valuation of mid-range business

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Tourism in Macau is picking up, with passenger numbers increasing by 14% year-on-yearasiangames2038.4%, and some gaming stocks in the Macau stock market fell in early trading. Zheshang Securities is optimistic about Macau's valuation, and the recovery trend of its mid-field business has been verified.

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Hong Kong stocks generally fell in early trading, with major Macau tourism stocks such as Melco International and Wynn Macau experiencing selling pressure.

Melco International Development (00200) shares fell 4.35% to close at HK$6.37, followed by Wynn Macau (01128), which fell 3.19% to HK$7.59. Sands China (01928) slowed down slightly, falling 2.7% to HK$19.44. SJM Holdings (00880) was not spared, falling 1.97% to close at HK$2.99.

On the other hand, the Macao Statistics and Census Bureau releasedasiangames2038According to the latest data from, in April this year, the number of inbound passengers to Macau reached 2.6 million, an increase of 14.4% year-on-year, which is equivalent to 75.8% of the same period in 2019. Compared with March, the number of people entering the country decreased slightly in April, with a decrease of 4.4%.

Further data showed that the number of non-overnight passengers and stay-in passengers increased by 23.0% and 6.3% respectively. The average stay of tourists in Macau was 1.2 days, which was the same as the same period last year. The average length of stay for overnight passengers increased by 0.1 day, while the average length of stay for non-overnight passengers decreased slightly.

Regarding the current performance of Macau's tourism market, Zheshang Securities analyzed that although Macau's current valuation level is at a historically low level, the recovery trend of midfield business has been verified. The improvement of midfield business is expected to continue to drive Macau's profit level and valuation center.

However, the agency also raised risk warnings, believing that the recovery of the industry will be mainly affected by inbound passenger flow. If the recovery pace of Macau tourists slows down, or if the tourists visiting Macau are mainly short-distance sightseeing and low spending power, it may have an adverse impact on the overall recovery process of the industry.

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