Genting Singapore is up 2.8% at $1.28 in strong volume accounting for 3.0% of shares changing hands on the SGX, with large trade sizes suggesting institutional interest.
“Some people believe that we’re at the bottom of the earnings cycle for gaming around the region,” an analyst says. He adds, another potential reason for the rise is “you’ve got pending political change in Japan. So people obviously get hopeful about potential legalisation of casinos.”
Orderbook quotes suggest the stock will struggle to top its $1.30 intraday high.
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