MSCI China Index Overview

As of July 1, 2025, the MSCI China index closed at 7808.2, reflecting a significant recovery from its 52-week low of 5525.95 on August 4, 2024. The index reached a 52-week high of 8185.71 on March 17, 2025, indicating a volatile yet upward trend over the past year.

Macau’s Gaming Revenue Surge

Macau’s Gross Gaming Revenue (GGR) for June 2025 saw a remarkable 19% year-over-year increase, reaching MOP21.1 billion. This performance exceeded market expectations, with major brokers attributing the surge to a low base from the previous year and a series of high-profile concerts, including those by Jacky Cheung. The concerts, held at the Macau Galaxy Arena, significantly boosted visitor numbers and spending.

Broker Insights and Stock Movements

Several brokers have commented on Macau’s impressive GGR figures. JPMorgan highlighted the exceptional performance, noting that the GGR surpassed market consensus by 9%. Morgan Stanley also reported that the GGR exceeded their expectations by 9%, driven by the low base effect and the concerts. UBS echoed these sentiments, with Macau’s average daily GGR in June reaching MOP702 million, significantly higher than the anticipated MOP645 million.

The positive GGR figures have had a favorable impact on related gaming stocks. GALAXY ENT (00027.HK) opened 9.04% higher at $38, with a turnover of 3.2482 million shares. The company’s strong performance is reflected in its short selling ratio of 8.343% and a short selling value of $23.56 million.

Tencent’s Share Buyback

Tencent (00700.HK) announced a share buyback of 996,000 shares on the Hong Kong Exchange, involving approximately HKD500 million. The buyback, conducted at prices ranging from HKD500.5 to HKD508, represents a short selling ratio of 3.588%. This move follows an ordinary resolution passed on May 14, 2025, and is part of Tencent’s strategy to enhance shareholder value.

MGM China’s Market Outlook

Morgan Stanley has expressed a positive outlook for MGM China (02282.HK), predicting an over 80% chance of the company outpacing the market in the next 60 days. The broker has assigned an Overweight rating to MGM China, with a target price reflecting its strong market position.

E-commerce Developments

Taobao and Tmall Group have launched a merchant version self-service hall, aiming to enhance the after-sales service experience for merchants and consumers. Additionally, Taobao Instant Commerce introduced a subsidy plan with a scale of up to RMB50 billion, offering benefits such as red packets, free order cards, and official subsidies for fixed-price goods.

Overall, the financial landscape for MSCI China and related sectors shows positive momentum, driven by strong performances in gaming revenue and strategic corporate actions.