Air China, China Eastern, China Southern fall back after solid gains – SHARE WRAP

Chinese airlines out - Indian airlines in. Investors dumped Chinese airline shares yesterday, with China Eastern falling the most (-5.5%) and Air China, Shanghai Airlines and China Southern slipping 5.3%, 5.0% and 4.1%, respectively. Shares in these airlines however remain between 10-30% above levels at the start of 2009, on investor optimism about the outlook for demand.