JPMorgan named five stocks it recommends to buy amid an expected rise in the broader Chinese stock market during February. The investment bank said it "remains bullish" on Macao casino operator Sands China and Galaxy Entertainment , and Hong Kong retail landlords Wharf REIC , LINK and Fortune REIT . Strategists at the Wall Street bank attributed last week's sell-off in Hong Kong listed shares as profit-taking by some investors.
" Equity analyst and head of Asian gaming, DS Kim, in a separate note on Feb. 1 said Macau's demand was recovering "right off the gate" since Beijing relaxed its "zero-Covid" policies . Gross gaming revenue more than tripled compared to last year despite a lack of high-rollers and the Lunar New Year holidays, according to Kim. He also said revenues had recovered to 60-70% of their pre-Covid levels.
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