Beijing Airport shares soar amid broad rally – Share Wrap
Shares in the operator of Beijing Capital International Airport soared 11.1% yesterday as the swine flu outbreak shows further signs of containment. Airport shares were stronger virtually across the board as global markets embrace the prospect of an economic recovery.
China's Purchasing Manufacturer's Index was positive again last month, which has helped aviation stocks in that country.
Beijing has also significantly outperformed its rivals over the past six months in terms of passenger numbers growth - although last year's figures were depressed by Olympics-related security and congestion issues.
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Passenger numbers growth at Beijing, Shanghai Pudong, Taipei, Hong Kong, Macau airports: Apr-08 to Mar-09
Source: Centre for Asia Pacific Aviation, CAAC & Company reports
Elsewhere, Australian Infrastructure Fund soared 7.9% and Vienna Airport advanced 6.5%. Turkey's TAV Airports slipped 1.2%.
Selected airports daily share price movements (% change): 04-May-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance