Strong momentum of mainland financials sector led to significant increase of A-share market. CES China A80 (CES A80) jumped 4.0%. In contrast, investors continue to rotating out of small caps. A-share small cap indices declined 2.5% to 3.0%.
Morgan Stanley initiated coverage on China Evergrande and maintained bullish to the China property market, as the market remains undersupplied. CES China HK Mainland Index (CES HKMI), including 40 most liquid and largest Mainland companies listed on HKEX, rose 3.1%.
Media reported that Lawrence Ho, chairman and CEO of Melco, believed Macau gaming industry could reach the peak MOP360 billion Gross Gaming Revenue (GGR) in 2013 again in 5 years. CES Gaming Top 10 Index (CES G10) surged 5.5%.
