Chinese airlines led the region sharply lower on Friday on concerns the central bank could move again to curb rising inflation.
The benchmark Shanghai Composite Index slumped 5.2% – its biggest one-day fall in 14 months – as China's consumer price index rose by 4.4% in Oct-2010, stoking expectations of another tightening of monetary policy, which could dampen demand. Sensitive sectors such as airlines were hard hit. Shandong Airlines shed 10% and Hainan Airlines 8.3%, while the "big three" state-owned carriers all slumped around 5%.
Qantas slipped 2.4% as the carrier confirmed its A380 fleet would remain grounded for at least a further 48 hours. Thai Airways dropped 2.1% as it revealed a worse-than-expected third-quarter net profit.
Asia Pacific selected airlines daily share price movements (% change): 12-Nov-2010