Airline stocks climb in Korea, Japan and Taiwan, fall in China/India. Vietnam predicts strong growth
Asia Pacific airline shares were mixed yesterday, with North Asian airlines generally higher, led again by market darling Asiana Airlines (+4.8%), China Airlines (+4.6%) and EVA Air (+2.6%). Indian and Chinese airlines stocks were lower, including SpiceJet (-5.5%), China Eastern (-4.1%), Air China (-4.0%) and Kingfisher Airlines (-4.0%).
See related report: Asia Pacific LCCs finding the going tough in international markets
The Vietnam VN Index fell 2.6% yesterday, closing below the psychologically important 500 level, at 494.9. This was despite the Vietnam Government announcing its target of 7.5%-8.5% GDP growth in the 2011-2015 period. The country targets GDP growth of 6.5% this year, up from 5.3% in 2009.
Asia Pacific selected airlines daily share price movements (% change): 19-May-2010
Source: Centre for Asia Pacific Aviation & Reuters