Last week, President Xi Jinping stressed at the meeting to maintain the financial security. Market expected the financial regulation will be tightened, which in short-term reduces the liquidity between financial institutions, while be favorable for the development of the financial industry in long-term. A-share benchmark CES China A80 (CES A80) slightly edged down 0.5%.
Fund flowed into HK stocks. Over RMB 10 billion southbound capital inflow was recorded through the Stock Connect program during the week. Large-cap blue chips such as AIA surged 6.2% intraday last Thursday. Large-cap index CES Stock Connect HK Select 100 (CES SCHK 100) rose 2.1%.
The April Macau Gross Gaming Revenue (GGR) increased 16.3% YoY, higher than the market consensus of 15%. CES Gaming Top 10 Index (CES G10) increased 1.9%.
