SJMHY - Macau gaming stocks on watch as green shoots emerge

Bank of America says Guangzhou traffic levels were down -12% Y/Y from normal for the week ending March 13 to mark the best week this year and indicate a sharp recovery from the 2021 average traffic drop of -26%. "China RevPAR was -30% vs. 2019, above the four-week rolling average of -40%. In Macau, there could be some sequential improvement in March," notes the firm. BofA's breakdown on Beijing's relaxed restrictions: "In domestic China, Beijing government has relaxed certain COVID-related restrictions with effect on March 16. Anyone from low-risk area entering Beijing does not need to present a negative COVID-test. It also allows organizing meetings/sports events with fewer than 500/1,000 participants respectively. This shows that the government intends to facilitate a recovery of business activities after the recent mini-outbreaks have stabilized. This should bode well for the travel activities in upcoming holidays including Qingming festival/May golden week." Macau casino stocks:

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Macau gaming stocks on watch as green shoots emerge