Global Oil Price Plunge! Hong Kong Aviation Stocks Surge, China Eastern Airlines Rises Over 8%

Deep News11-05 09:50

On November 5, Hong Kong aviation stocks surged sharply, with China Eastern Airlines rising over 8%, China Southern Airlines gaining more than 7%, Air China climbing over 6%, Beijing Capital International Airport up more than 3%, and Cathay Pacific also rising over 3%.

On the news front, the results of the U.S. midterm elections have been finalized, with the Democratic Party sweeping both the Senate and the House of Representatives. The market is betting that Democratic governance will accelerate the de-escalation of the Iran war. Oil prices suffered one of their worst single-day declines of the year yesterday, with Brent crude plunging nearly 10% below $100 per barrel and WTI crude falling over 9% to $88, both hitting two-month lows.

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