Hong Kong Stocks Movement: Aviation Stocks Under Continued Pressure Amid Elevated Oil Prices, CHINA EAST AIR and AIR CHINA Down Over 2%

Stock News05-12

Aviation stocks remain under pressure. At the time of writing, CHINA EAST AIR (00670) fell 2.38% to HKD 4.10; AIR CHINA (00753) dropped 2.14% to HKD 5.04; CHINA SOUTH AIR (01055) declined 1.16% to HKD 4.25. On the news front, U.S.-Iran negotiations have shown no progress, keeping oil prices elevated. It was reported that on May 11 local time, former U.S. President Trump stated the current ceasefire agreement between the U.S. and Iran is "extremely fragile" and in a "precarious" state. Earlier reports indicated Iran formally rejected the U.S.-proposed plan, viewing acceptance as submission to what it termed excessive demands from Trump. Trump subsequently responded on social media, calling Iran's response "completely unacceptable." Shenwan Hongyuan Securities noted that recent geopolitical conflicts have driven a significant rise in oil prices, putting short-term operational pressure on airlines, but external shocks do not alter the long-term positive supply-demand trend for the industry.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment