Investment Daily Note

Hong Kong stocks may post a lack of direction from US markets, which were closed for the Memorial Holiday. It is estimated that HSI would continue to consolidate at 50-day MA (about 20,565).

According to Macau’s Statistics and Census Service, economy of Macau contracted by 13.3% yoy in real terms in the 1Q 2016, mainly due to the continuous decline in investment and exports of services, of which exports of gaming services dropped by 17.1%. However, the above factors have been reflected on the valuation of thgambling industry. Currently markets are expecting Macau’s casinos to witness a revenue rebound in summer, we think related stocks could extend gains.