China's Airline Stocks Soar, Benefiting From Appreciation of Yuan
Liao Shumin
/SOURCE : Yicai
China's Airline Stocks Soar, Benefiting From Appreciation of Yuan

(Yicai Global) Aug. 30 -- China's airline stocks nudged up in the morning trading as airline companies have started benefiting from the appreciation of the yuan which crossed the important threshold of 6.6 against the dollar yesterday for the first time since June 2016.

By 10.45 a.m., the shares of China Southern Airlines Co. [SHA: 600029; HKG:1055] rose 6.41 percent; Air China Limited [SHA: 601111; HKG:0753] soared 3.94 percent; China Eastern Airlines Corp. Ltd. [SHA: 600115; HKG:0670] rose 3.39 percent. China's budget airlines, Juneyao Airlines Co. [SHA:603885] and Spring Airlines Co. [SHA:601021] gained 3.54 percent and 3.29 percent, respectively.

The onshore yuan rate (USD/CNY) was quoted at 6.5810 at 11.00 a.m. today.

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Keywords: MSCI , Airline , SHARES , CNY , Yuan , Appreciation