港股濠赌股盘初继续延续反弹行情，其中，金沙中国涨超4%，银河娱乐涨超3%，新濠国际发展、美高 梅中国涨约2%，澳博控股、永利澳门、汇彩控股涨超1%。 消息上，澳门博监局日前公布今年第三季幸运博彩收入为625.7亿澳门元(下同)，较去年同期的556.02亿 元增加12.53%，按季则升2.4%。 | 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 01928 | 金沙中国有限公 | 20.020 | 4.11% | | 00027 | 银河娱乐 | 39.300 | 3.37% | | 00200 | 新濠国际发展 | 4.840 | 1.89% | | 02282 | 美高梅中国 | 15.070 | 1.69% | | 00880 | 澳博控股 | 2.990 | 1.36% | | 01180 | 汇彩控股 | 0.790 | 1.28% | | 01128 | 永利澳门 | 6.780 | 1.19% | 里昂发表报告指，内地工业利润增长应能持续推动澳门博彩收入增长，股票投资者仍偏好高质量企业。 随着近期股价回调，该板块目前交易于9.4倍2026年 ...

Group 1 - Morgan Stanley raised its year-end targets for the MSCI Hong Kong Index (MXHK) to 13,000 and 14,000 points, with potential targets for 2026 of 14,366, 15,522, and 16,679 points, indicating potential increases of 8%, 16%, and 25% respectively [1] - The recovery trend in Hong Kong has been significant since 2023, with strong financial market performance and a stabilizing residential property market, making valuations attractive compared to historical levels and other markets [1] - Morgan Stanley maintains a positive outlook for Hong Kong for the next year, favoring stocks such as Hong Kong Exchanges and Clearing (00388), Futu Holdings (FUTU.US), Galaxy Entertainment (00027), MGM China (02282), Techtronic Industries (00669), China State Construction International (03311), Henderson Land Development (00012), and MTR Corporation (00066) [1] Group 2 - Year-to-date, the MSCI Hong Kong Index (MXHK) has returned 26% in USD terms, and its forecasted P/E ratio remains 0.3 standard deviations below the 10-year average, making Hong Kong the cheapest market in the Asia-Pacific region, excluding ASEAN [2]

Core Viewpoint - Morgan Stanley reports that the MSCI Hong Kong Index (MXHK) has returned 26% in USD terms year-to-date, indicating that Hong Kong remains one of the cheapest markets in the Asia-Pacific region, excluding ASEAN, with a forecasted P/E ratio still 0.3 standard deviations below the 10-year average [1] Group 1: Market Performance - The MXHK index's year-to-date return of 26% highlights a significant recovery trend in Hong Kong since 2023 [1] - The financial market performance in Hong Kong has been strong, and the residential property market is stabilizing [1] Group 2: Valuation and Forecast - Morgan Stanley has raised its year-end targets for MXHK to 13,000 and 14,000 points, assuming the index maintains or increases its P/E ratio relative to the past 10 years [1] - Potential targets for the end of 2026 are set at 14,366, 15,522, and 16,679 points, representing potential increases of 8%, 16%, and 25% respectively [1] Group 3: Investment Recommendations - The firm maintains a positive outlook for Hong Kong, expecting continued capital inflows, and has upgraded the telecommunications services sector to "overweight" [1] - Preferred stocks include Hong Kong Exchanges and Clearing (00388), Futu Holdings (FUTU.US), Galaxy Entertainment (00027), MGM China (02282), Techtronic Industries (00669), China State Construction International (03311), Henderson Land Development (00012), and MTR Corporation (00066) [1]

摩通指出，香港自2023年以来复苏趋势较显著，金融市场表现强劲，住宅物业市场趋向稳定，估值相对 于历史水平与其他市场不高，认为香港可持续吸引资金流入，对明年持正面看法，首选港交所、富途、 银河娱乐、美高梅中国、创科实业、中国建筑国际、恒基地产及港铁，并将通讯服务板块评级升至"增 持"。 摩根大通发表研究报告指，年初至今MSCI香港指数(MXHK)以美元计回报达26%，目前该指数未来12个 月预测市盈率仍低较10年平均水平低0.3个标准差，令香港成为亚太区内除东盟以外估值最便宜的市 场。摩通今年7月将今年年底MXHK基本及乐观目标分别上调至13000点及14000点。 ...

Core Viewpoint - The report from Credit Lyonnais indicates that Galaxy Entertainment is expected to face continued pressure on profit margins in the third quarter, with an adjusted EBITDA forecasted to grow by 10% year-on-year [1] Financial Performance - The adjusted EBITDA margin for the upcoming quarter is projected to be 26.1%, which represents a decrease of 1.5 percentage points compared to the same period last year [1] - Full-year forecasts for net revenue, adjusted EBITDA, and net profit have been revised downwards by 0.3%, 2.6%, and 4% respectively [1] Future Projections - The forecasts for 2026 and 2027 remain unchanged [1] - The target price for Galaxy Entertainment is maintained at HKD 50.5, with a rating of "outperform" [1] - Galaxy Entertainment continues to be listed as one of the top two preferred stocks in the industry [1]

银河娱乐 美高梅中国 分时图 日K线 周K线 月K线 37.64 -0.50 -1.31% 1.94% 1.28% 0.66% 0.00% 0.66% 1.28% 1.94% 37.40 37.65 37.89 38.14 38.39 38.63 38.88 09:30 10:30 12:00/13:00 14:00 16:10 0 42万 84万 125万 里昂发布研报称，近期在东京进行路演的最大收获是，许多投资者认同该行的观点，即中国工业利润增 长应能持续推动澳门博彩收入。与此同时，股票投资者仍偏好高质量企业。随着近期股价回调，该板块 目前交易于9.4倍2026年企业价值倍数(EV/EBITDA)，相较于该行为澳门"新常态"设定的11至12倍水 平。里昂维持现有的预测与评级。银河娱乐(00027)与美高梅中国(02282)是该行的首选标的。 ...

里昂发布研报称，近期在东京进行路演的最大收获是，许多投资者认同该行的观点，即中国工业利润增 长应能持续推动澳门博彩收入。与此同时，股票投资者仍偏好高质量企业。随着近期股价回调，该板块 目前交易于9.4倍2026年企业价值倍数(EV/EBITDA)，相较于该行为澳门"新常态"设定的11至12倍水 平。里昂维持现有的预测与评级。银河娱乐(00027)与美高梅中国(02282)是该行的首选标的。 ...

智通财经APP获悉，里昂发布研报称，近期在东京进行路演的最大收获是，许多投资者认同该行的观 点，即中国工业利润增长应能持续推动澳门博彩收入。与此同时，股票投资者仍偏好高质量企业。随着 近期股价回调，该板块目前交易于9.4倍2026年企业价值倍数(EV/EBITDA)，相较于该行为澳门"新常 态"设定的11至12倍水平。里昂维持现有的预测与评级。银河娱乐(00027)与美高梅中国(02282)是该行的 首选标的。 ...

里昂发表报告指，内地工业利润增长应能持续推动澳门博彩收入增长，股票投资者仍偏好高质量企业。 随着近期股价回调，该板块目前交易于9.4倍2026年企业价值倍数(EV/EBITDA)，相较于该行为澳门新 常态设定的11至12倍水平。里昂维持现有的预测与评级，银河娱乐和美高梅中国是该行的首选标的。 ...

Group 1: Market Reactions and Economic Data - The Hong Kong stock market showed a strong rebound, with the Hang Seng Index rising by 2.42% [1] - The U.S. government shutdown continues, leading to increased public dissatisfaction, highlighted by a nationwide protest involving approximately 7 million participants [1] - China's economic data for the first three quarters of 2025 shows a GDP of 10,150.36 billion yuan, with a year-on-year growth of 5.2%, although consumption and investment have declined [3] Group 2: Robotics and Technology Developments - Yubiquitous Technology secured a contract worth 126 million yuan for the procurement of humanoid robots, adding to its significant order backlog of over 630 million yuan for the Walker series [4] - The robotics sector is experiencing growth, with companies like Yushutech reporting substantial sales figures and aiming for increased production in the coming year [3][4] Group 3: Stock Buybacks and Market Performance - Companies engaging in significant stock buybacks, such as China Resources Gas, are seeing positive market reactions, with shares rising over 4% [5] - Sanhua Intelligent Control announced an increase in its share repurchase price cap, leading to an 8% rise in its stock price [4] Group 4: Shipping and Aviation Industry Trends - The global shipping industry is undergoing a significant reshuffle due to new port fees, benefiting companies like COSCO Shipping Energy, which saw an 8% increase in stock price [6] - The aviation sector is also thriving, with China Eastern Airlines reporting a 9% increase in stock price, driven by a strategic focus on international routes [6] Group 5: IPOs and Investment in Technology - The rapid IPO process for Muxi Integrated Circuit indicates strong regulatory support for technology firms, with related companies experiencing stock price increases [7] - MINIEYE's successful bid for an autonomous driving project marks a significant step in the commercialization of its technology, leading to a 7% rise in its stock price [7] Group 6: Tourism and Hospitality Sector Insights - The tourism industry shows steady demand, with hotel average daily rates and revenue per available room experiencing positive growth, although supply pressures remain [8] - Analysts are optimistic about the Macau gaming sector, particularly for companies like Sands China and Galaxy Entertainment, due to low revenue baselines [8] Group 7: Company Performance and Global Expansion - Shenzhou International reported a revenue increase of 15.3% year-on-year, driven by strong performance in leisure and overseas markets [9] - The company is expanding its global production capacity, with overseas factories accounting for approximately 53% of total garment output [9][10]