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Asian shares set for big day as Obama picks dream economics team

Analysis

Asia Pacific airline shares are expected to have a strong day after Wall Street's 6% rally late on Friday on rumours - since confirmed - that President elect Barack Obama would appoint New York Federal Reserve chief, Timothy Geithner, as his Treasury Secretary and Larry Summers, the last Treasury secretary in Bill Clinton's administration, as head of Mr Obama's economic advisory team.

Summary
  • Asian shares mixed on Friday, but strong day seen today

Asian shares were mixed on Friday. Mainland Chinese airline shares were sold off, but Taiwanese counterparts surged. Thai Airways had a negative day, but Southeast Asian rival, Singapore Airlines, had a strong day, despite reports the Singapore economy has officially slipped into recession.

Monday's trade should see a more uniformly positive mood.

Asia Pacific selected airlines daily share price movements (% change): 21-Nov-08

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