Global Pullback Continues; Focus on Defensives: Buys in Staples, Utilities, Precious Metals Miners
Europe/UK STOXX Europe 50/FTSE 100 with concerning breakdowns below 3800 and 7700, joining the pullback that had already started in the MSCI ACWI....
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Global Markets Outlook: Maintain Defensive Posture
Our outlook for global equity markets remains cautious and we expect additional weakness and consolidation, notwithstanding shorter-term...
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Expected Macau Smoking Ban Creates a Level Playing Field for Operators
This week the Macau government proposed to the Second Standing Committee of Macau Legislative Assembly to allow smoking only in smoking lounges in...
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China NEV - Driving in the Post-Subsidy World
It is well recognised that the New Energy Vehicle (NEV) growth in China (and elsewhere for that matter) has been fueled by subsidies with the...
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Upgrading 2017 Macau Gaming Revenue Growth to 6%; Policy Risks Prevent Robust Recovery
We have revised our near-term Macau gross gaming revenue growth forecast, based on our industry checks that point to improvement in both VIP and...
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