Stock Track | Sands China Surges 10% on Golden Week Travel Boost, Economic Stimulus Hopes

Stock Track10-07

Shares of Sands China Ltd, a leading casino operator in Macau, soared 10% on Monday, buoyed by robust visitor arrivals during China's National Day holidays and mounting expectations of aggressive stimulus measures by Chinese authorities to revive the country's economic growth.

Macau tourism data showed the gambling hub received over 916,000 visitors during the six-day Golden Week period, a 32.3% year-over-year increase. Significantly, mainland Chinese visitor arrivals surged 47.2% from last year to nearly 774,000. According to analysts at UBS, the robust visitor traffic reflects Macau's enduring appeal as a premier tourist destination, boding well for casino operators like Sands China.

Adding to the optimism, investors are pricing in the likelihood of forceful policy action by Beijing to stimulate the slowing Chinese economy. Reports indicate the central government could soon unveil a 3 trillion yuan ($427.5 billion) consumption support package, along with other fiscal and monetary stimulus measures. Wall Street giants like Citigroup and Goldman Sachs have raised their targets for Chinese stock benchmarks, betting that these policies will boost economic growth and corporate earnings.

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