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Wipe out for Chinese airline shares

Analysis

Shares in China Eastern, China Southern, Air China, Shanghai Airlines and Hainan Airlines were battered down by 15.1%, 13.6%, 10.2%, 7.5% and 6.5% on 24-Nov-08, although reasons for the heavy sell-off are not immediately apparent. The big three carriers issued separate statements indicating they were not aware of any reasons for such decreases.

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