07-Oct-2010 11:40 AM
Asia Pacific airline shares mixed
Analysis
Airline stocks in the Asia Pacific region were mixed yesterday. Mainland Chinese carrier stocks fell, led by Air China (-3.4%), while Taiwanese carriers gained, led by EVA Air (+4.3%).
Summary
- Mainland Chinese carrier stocks fell, while Taiwanese carriers gained.
- Investors are favoring airlines with exposure to premium markets.
- Virgin Blue's stock fell, while Qantas' stock gained.
- Singapore Airlines and Cathay Pacific saw slight increases in their stock prices.
- Korean stocks, particularly Asiana Airlines, were higher.
- Indian carriers experienced a drop in their stock prices.
Virgin Blue fell 1.1%, while Qantas gained 2.9%. Investors are buying airlines with an exposure to premium markets, which are growing robustly again. Singapore Airlines rose 0.4%, while Cathay Pacific advanced 0.9%.
Korean stocks were also higher, led by Asiana Airlines (+1.2%), while Indian carriers dropped back.
Asia Pacific selected airlines daily share price movements (% change): 06-Oct-2010
Source: Centre for Asia Pacific Aviation, Reuters & Financial Times