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Airline stocks climb in Korea, Japan and Taiwan, fall in China/India. Vietnam predicts strong growth

Analysis

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%).

Summary
  • North Asian airlines, including Asiana Airlines, China Airlines, and EVA Air, experienced positive share price movements.
  • Indian and Chinese airlines, such as SpiceJet, China Eastern, Air China, and Kingfisher Airlines, saw a decline in their stock prices.
  • The Vietnam VN Index dropped by 2.6% and closed below the 500 level.
  • Despite the Vietnam Government's target of 7.5%-8.5% GDP growth in the 2011-2015 period, the country aims for 6.5% GDP growth this year.
  • The overall performance of Asia Pacific airline shares was mixed.
  • Data source: Centre for Asia Pacific Aviation & Reuters.

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

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