Echo: Interim result 2015

Investments in its trophy property The Star continue to bear fruit, but Echo’s expensive share price and high risks keep it a Sell.

After becoming Chinese Communist Party chief in November 2012 and Chinese President a few months later, Xi Jinping launched a sweeping crackdown on corruption that has scared wealthy Chinese so much that they have begun to conceal signs of their wealth. Amongst other things, this has meant taking fewer trips to Macau – the world’s largest gambling Mecca – resulting in the former Portuguese colony’s gambling revenue falling in recent months after many years of rapid growth.

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