In Hong Kong, major Chinese banks are mixed amid earning news. China Merchants Bank (CMB) is the worst performer among mainland Chinese banks, weakening 2.3% after its results showed net profit climbed 14% in the first quarter, but its capital adequacy ratio worsened to 10.9%, down 0.24 percentage point from the previous quarter. China Citic Bank Corp. and China Minsheng Bank, meanwhile, are dropping 0.6% and 0.5%, respectively.
But other names in the sector are moving up a little, with both Bank of China and Agricultural Bank of China up 0.3% after they reported better-than-expected earnings for the first quarter. China Construction Bank is also trading higher by 0.2%. Now, the market is awaiting results from the other two big state banks — Bank of Communications and ICBC — with their stocks up 0.4% and 0.2%, respectively.
Casino stocks are sharply lower, extending heavy losses in the previous session, as Melco Crown Entertainment tumbles 5.8%, Galaxy Entertainment Group loses 5.2%, and both MGM China Holdings and Sands China decline by more than 4%, while Wynn Macau and SJM Holdings fall more than 3%.