Beijing shrugs off strong Chinese New Year traffic - airport share wrap
Beijing Airport investors appear to be difficult to please. Despite CAAC reports of a 19.4% increase in nationwide passenger numbers during the Chinese New Year holiday period (25-Jan-09 to 31-Jan-09) to 4.0 million. Beijing Airport shares fell back 7.5% yesterday, while Shanghai Airport's shares rose 5.7% and Guangzhou rose 1.8%.
Last year's Lunar New Year period was badly affected by snow storms in Southern China, which perhaps left investors hoping for more of a comeback in demand this year.
Chinese airline shares were also sold off, as investors ponder the outlook post the holiday period.
Selected airports daily share price movements (% change): 02-Feb-09