0911 GMT - Likely robust box-office performance in China over the weeklong National Day holidays should be a new catalyst for entertainment stocks, Citi analysts led by Vicky Wei and Alicia Yap say in a research note. China's box office achieved 35% on-year increase for the first day of the holiday period, Citi notes. Citi projects China's seven-day holiday box office at CNY3 billion, and expects upside risks to the estimates based on the first day's results. Maoyan Entertainment is likely the key beneficiary of holiday period as it is linked to six of 10 movies, while Huayi Brothers is also likely to benefit. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
October 02, 2024 05:11 ET (09:11 GMT)
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