Hong Kong-listed technology blue chips, Tencent, announced result of 2017 first quarter. Revenue climbed 55% YoY to RMB49.6B. Net income surged 58% YoY to RMB14.5B. Result beats market expectation. CES China 120 Index (CES120) & CES China HK Mainland Index (CES HKMI), rose 0.6% and 1.1% respectively.
The mainland property developer, China Evergrande’s credit rating was upgraded by credit agencies. Share price has a 15% rally over the week. Offshore-listed Chinese private enterprises benchmark index CES China Private Elite Index (CES CPE) climbed 1.5%.
Media reported that Macau’s gaming concessionaires may have to rebid for their licenses, potentially as some sort of public tender. CES Gaming Top 10 Index (CES G10) dropped 1.0%.
