After the short-term rebound, both A share and Hong Kong stock markets plunged last week due to sell-off pressure spread in global equity markets. The Average daily turnover (ADT) for Hong Kong market declined to less than HKD 130 billion. The overall February ADT also dropped to HKD 144 billion compared with January’s HKD 161 billion.
Major indices generally headed down, which large-cap stocks suffered most. In contract, the mid-small cap stocks performed better, especially in the A share markets. Cross border China mid-cap benchmark CES China 280 (CES 280) edged up 0.1%, best performed among CES indices.
Macau gaming gross revenue (GGR) in February increased 5.7% YoY, which was under market consensus of 9%. However, the GGR in the first two months of 2018 still recorded 19.7% YoY growth, maintaining strong growth momentum.
