Market Overview - The Hong Kong stock market experienced a significant decline, with the Hang Seng Index closing at 25,441 points, down 1.73%, while the Hang Seng Tech Index fell 3.62%, dropping below the 6,000-point mark [1][2] - Major technology stocks led the market downturn, with semiconductor stocks also suffering substantial losses [2][4] Sector Performance - The technology sector saw widespread declines, with notable drops including Hua Hong Semiconductor down over 13% and SMIC down over 8% [4][5] - Gold and precious metals stocks also fell sharply, with Zijin Mining and Chifeng Jilong Gold both dropping over 6% [6] - The gambling sector continued its downward trend, with New World Development down over 8% and Galaxy Entertainment down over 5% [11][12] - Conversely, banking stocks showed resilience, with Chongqing Rural Commercial Bank rising over 6% and China Merchants Bank up over 4% [13][14] - The film and entertainment sector performed well, with Huayi Brothers Media surging nearly 20% [15][16] Capital Flows - Southbound funds recorded a net inflow of 8.603 billion HKD, indicating continued interest in Hong Kong stocks despite the market volatility [17] Future Outlook - Analysts suggest that the recent escalation in US-China trade tensions may increase market uncertainty, but they remain optimistic about the medium-term outlook for Hong Kong stocks, particularly in sectors like AI, innovative pharmaceuticals, and new consumption [19]

Group 1 - Hong Kong gaming stocks continue to decline, with New World Development down 5.19% to HKD 4.75 [1] - Sands China decreased by 4.2%, trading at HKD 18.23 [1] - Galaxy Entertainment fell by 3.56%, now priced at HKD 36.3 [1] - MGM China dropped by 3.39%, currently at HKD 13.97 [1]

Group 1 - The gaming stocks continue to decline, with New World Development down 5.19% to HKD 4.75, Sands China down 4.2% to HKD 18.23, Galaxy Entertainment down 3.56% to HKD 36.3, and MGM China down 3.39% to HKD 13.97 [1] - According to a report from Credit Lyonnais, the Macau gaming industry is expected to see a year-on-year EBITDA growth of 10% to USD 2.063 billion in Q3, driven by a 12.5% year-on-year increase in gross gaming revenue (GGR) [1] - The report indicates that adjusted profit margins will be under pressure, with a projected quarterly decline of 0.5 percentage points due to a 33-hour casino shutdown caused by Typhoon Haikui [1] Group 2 - The focus for the market will be on the resilience of gaming revenue post-Golden Week and the reinvestment activities of gaming companies [1] - The firm has revised its EBITDA forecasts for the industry downwards by 1.4% and 0.5% for this year and next year, respectively, expecting a year-on-year EBITDA increase of 7% to USD 8.2 billion this year and an 8% increase to USD 8.8 billion next year [1] - Additionally, the forecasts for gaming revenue have been adjusted upwards by 0.1% and 1.3% for this year and next year, respectively [1]

智通财经APP获悉，博彩股延续近期跌势，截至发稿，新濠国际发展(00200)跌5.19%，报4.75港元；金 沙中国(01928)跌4.2%，报18.23港元；银河娱乐(00027)跌3.56%，报36.3港元；美高梅中国(02282)跌 3.39%，报13.97港元。 消息面上，里昂发布研报称，预期澳门博彩行业今年第三季EBITDA按年增长10%至20.63亿美元，主要 受博彩总收入(GGR)按年升12.5%所带动。不过，经幸运调整利润率将承压，预计按季跌0.5个百分点， 因台风桦加沙导致赌场停运33小时。该行认为，黄金周后博彩总收入的韧性及博企再投资的情况将成为 市场关注焦点。该行将今明年行业EBITDA预测分别下调1.4%及0.5%，预计今年行业EBITDA按年升7% 至82亿美元，明年升8%至88亿美元；同时将今明年博彩总收入预测分别上调0.1%及1.3%。 ...

Group 1 - Hong Kong gaming stocks continue to decline, with Melco International Development down 5%, Sands China down nearly 4%, Galaxy Entertainment down over 3%, MGM China down 2.7%, and Wynn Macau down 1.7% [1] - According to a report by Citi Research, the Macau gaming industry is expected to see a year-on-year EBITDA growth of 10% to $2.063 billion in Q3, driven by a 12.5% year-on-year increase in gross gaming revenue (GGR) [1] - However, adjusted profit margins are expected to be under pressure, with a projected quarterly decline of 0.5 percentage points due to a 33-hour casino shutdown caused by Typhoon Haikui [1] Group 2 - The resilience of gaming revenue post-Golden Week and the reinvestment activities of gaming companies will be key focus areas for the market [1] - The firm has revised its EBITDA forecasts for the industry downwards by 1.4% and 0.5% for this year and next year, respectively, anticipating a 7% year-on-year increase in industry EBITDA to $8.2 billion for this year [1]

（文章来源：每日经济新闻） 每经AI快讯，10月13日，港股博彩股今日继续下挫，延续月内跌势。截至发稿，金沙中国(01928.HK)跌 5.41%，报19.05港元；新濠国际发展(00200.HK)跌4.05%，报4.98港元；永利澳门(01128.HK)跌3.65%， 报6.34港元；美高梅中国(02282.HK)跌3.16%，报14.4港元。 ...

Group 1 - The gaming stocks continued to decline, with Sands China down 5.41% to HKD 19.05, Melco International Development down 4.05% to HKD 4.98, Wynn Macau down 3.65% to HKD 6.34, and MGM China down 3.16% to HKD 14.4 [1] - Morgan Stanley reported that Macau's total gaming revenue (GGR) for the first five days of October reached MOP 5.5 billion, with an average daily revenue of MOP 1.1 billion, marking the best performance for the Golden Week in five years. However, this represents only a 3% year-on-year increase, which is below expectations [1] - UBS noted that Wynn Macau's market share significantly increased in September, rising by approximately 200 basis points month-on-month, contributing to a quarterly increase of 150 basis points in market share. The second-highest increase was observed in SJM, which saw a month-on-month increase of about 50 basis points, but a decline of 30 basis points in the third quarter [1] Group 2 - The visitor volume from October 1 to 5 remained flat, further dragging down GGR growth, as a typhoon caused a 25% drop in visitor numbers on October 5 [1] - Morgan Stanley expects GGR for October to grow by 11% to 13% year-on-year, reaching MOP 23 billion, which would be the highest in six years [1] - Compared to market expectations, the market shares of Galaxy Entertainment and Wynn were higher than anticipated, while MGM, Sands China, and SJM were below expectations [1]

Core Viewpoint - The gaming stocks continue to decline, extending their downward trend for the month, with significant drops in major companies like Sands China and Wynn Macau [1] Group 1: Stock Performance - Sands China (01928) fell by 5.41%, trading at HKD 19.05 [1] - Melco International Development (00200) decreased by 4.05%, trading at HKD 4.98 [1] - Wynn Macau (01128) dropped by 3.65%, trading at HKD 6.34 [1] - MGM China (02282) declined by 3.16%, trading at HKD 14.4 [1] Group 2: Gaming Revenue Insights - Morgan Stanley reported that Macau's gaming gross revenue (GGR) for the first five days of October reached MOP 5.5 billion, with an average daily revenue of MOP 1.1 billion, marking the best performance for the Golden Week in five years [1] - Year-on-year growth was only 3%, lower than both the bank's and market expectations [1] - Visitor numbers from October 1 to 5 remained flat, further impacting GGR growth, with a 25% drop in visitors on October 5 due to a typhoon [1] - The bank projects a year-on-year GGR growth of 11% to 13% for October, estimating a total of MOP 23 billion, which would be the highest in six years [1] Group 3: Market Share Analysis - UBS noted a significant increase in Wynn Macau's market share in September, rising by approximately 200 basis points month-on-month, contributing to a quarterly increase of 150 basis points [1] - The second-highest market share increase was observed in SJM Holdings, which saw a month-on-month rise of about 50 basis points, although it still declined by 30 basis points in the third quarter [1] - Compared to market expectations, the market shares of Galaxy Entertainment and Wynn exceeded expectations, while MGM, Sands China, and SJM fell short [1]

瑞银发布研报称，永利澳门(01128)9月份博彩收入市占率环比上升约200个基点，使其第三季市占率环 比增加150个基点，为季内最大升幅。 报告指出，澳博控股(00880)9月份市占率环比上升约50个基点，但第三季度整体仍按季下跌30个基点。 大型博企在9月份似乎因季节性因素而失去市场份额，其中金沙中国(01928)及银河娱乐(00027)的市占率 分别环比下跌约100和150个基点，但第三季度整体仍分别按季上升70和40个基点。 新濠国际发展(00200)和美高梅中国(02282)9月份市占率环比持平，但第三季度分别按季下跌120和100个 基点。与第三季度市场预期相比，银河和永利的市占率高于预期，而美高梅中国、金沙中国和澳博控股 则低于预期。 ...

每经AI快讯，10月10日，港股博彩股午后跌幅扩大，截至发稿，金沙中国(01928.HK)跌4.13%，报20.44 港元；银河娱乐(00027.HK)跌3.29%，报38.84港元；澳博控股(00880.HK)跌3.19%，报3.03港元；新濠国 际发展(00200.HK)跌3.32%，报5.24港元。 ...