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Guo Jiayao: The market is looking for different themes to speculate on, and Cathay Pacific (00293.HK) has an optimistic outlook.
Guo Jiayao, the Business Development Director of the Hong Kong Family Office, stated that US stocks performed positively on Monday (the 16th), with signs of easing in the Middle East situation, driving a significant rebound in the market, and all three major indices ended with gains. The US dollar continued to be weak, the yield on the ten-year US Treasury note rose to 4.45%, gold prices fell from the high, and oil prices also fluctuated downwards. Hong Kong's pre-market securities remained generally stable, and the market is expected to open higher in the early session. The mainland stock market rose yesterday, with the Shanghai Composite Index opening low but climbing higher, closing up 0.4%, and the trading volume in both the Shanghai and Shenzhen markets also decreased. Hong Kong stocks fell first and then rebounded yesterday, with the index opening low and the decline once widening, before stabilizing and closing up.
In May, the airport's passenger volume increased by nearly 20% year-on-year to 4.86 million passengers.
The Airport Authority announced that in May, the airport passenger volume reached 4.86 million, with the number of aircraft takeoffs and landings at 32,480, representing year-on-year growth of 19.7% and 8.8%, respectively. The growth in passenger volume is mainly driven by double-digit increases in transfer and transit passengers, as well as visitors to Hong Kong. Among these, routes to and from mainland China and Southeast Asia recorded the most significant increases. Supported by a 12.7% increase in transshipment cargo, cargo volume increased by 1.4% year-on-year to 0.422 million tons. Among these, cargo volume to and from Europe and the Middle East was the main growth driver. In the first five months of this year, passenger volume rose by 17.5% year-on-year to 24.64 million.
Hong Kong stocks are moving differently | Airline stocks continue to decline due to escalating conflicts in the Middle East raising concerns about oil supply. Rising oil prices directly affect airline profitability.
Aviation stocks continue to decline. As of the time of writing, China Eastern Airlines (00670) is down 3.95% at HKD 2.92; Air China Limited (00753) is down 3.83% at HKD 5.52; China Southern Airlines (01055) is down 2.36% at HKD 3.72; CATHAY PAC AIR (00293) is down 0.97% at HKD 10.2.
Hong Kong stocks move丨Airline stocks decline, Air China Limited falls over 4%, affected by multiple bearish factors.
On June 16, Gelonghui | Hong Kong stock aviation stocks collectively fell, among which, Air China Limited dropped over 4%, China Eastern Airlines fell over 3%, China Southern Airlines was down 2.6%, CATHAY PAC AIR decreased by 1.55%, and MEILAN AIRPORT followed suit. In terms of news, there was a plane crash in India that led to a global decline in airline stocks, followed by intensified conflict between Israel and Iran, causing sharp rises in Gold, Oil, etc. Crude Oil opened on Monday up over 6%, reported at $76.13 per barrel. Airline fuel costs typically account for 20%-30% (or even more) of an airline's total operating costs, and rising oil prices will directly squeeze profits. Additionally, Boeing adjusted its forecast for aircraft over the next 20 years.
Asian Aviation Stocks Slip After Air India Crash -- Market Talk
Hong Kong stocks movement | Airline stocks continue yesterday's decline as the tense situation in the Middle East escalates, driving up oil prices. RBOB Gasoline costs remain the largest expense for airlines.
Airline stocks continued to decline from yesterday. As of the time of publication, China Southern Airlines (01055) is down 3.32%, priced at 3.79 HKD; China Eastern Airlines (00670) is down 2.58%, priced at 3.02 HKD; Air China Limited (00753) is down 1.22%, priced at 5.69 HKD; CATHAY PAC AIR (00293) is down 2.29%, priced at 10.24 HKD.
