Chinese Airlines Among Hard-hit Stocks in Bird Flu Scare

Gene Linn |

Shanghai Stock ExchangeThe rising number of bird flu cases on the mainland spooked the Hong Kong market Friday.

Re-opening from Thursday's holiday, the market's Hang Seng index plunged 2.7% in increased turnover, crashing through the heretofore solid support level of 22,000. The index closed at 21,727, while the index of Chinese companies plummeted 3.1% to 10,429.

Airlines were particularly hard hit in a broad-based decline, according to KGI Resources. China Air (AIRYY) tumbled almost 10%.

DAILY FIX

Hong Kong Blue Chips: -611, -2.7, to 21,727, 4-5-13, Hang Seng Index.

Chinese Stocks in Hong Kong: -329, -3.1%, to 10,429, 4-5-13, HSCE Index.

Shanghai Stocks: -2, -0.1%, to 2,225, 4-3-13, Shanghai Composite Index. Closed for holiday.

Chinese Stocks in the U.S.: +0.5, 364.5, 4-4-13, Bank of New York Mellon, ADR Index-China

Quotable: "Overall technical outlook of HSI was weak but short-term rebound will continue." Core Pacific Yamaichi. 4-5-13

Brokerages and analysts cited here have disclaimers on their websites emphasizing their statements are for information only. They do not endorse my blog, and I don’t endorse them.

For a list of Chinese companies sold in the U.S. and information on each company go to http://www.adrbnymellon.com/dr_country_profile.jsp?country=CN

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
BP18E BP Capital Markets Plc 1.674% Gtd Nt 02/13/2018 n/a n/a n/a 0

Comments

Emerging Growth

Bee Vectoring Technologies International

Bee Vectoring Technologies International Inc, formerly Unique Resources Corp is an technology/agricultural industry company. It develops and owns bee vectoring technology that is designed to utilize bees as natural delivery…

Private Markets

Knightscope

Autonomous security robots providing advanced detection capabilities at $7 per hour - aiming to define the future of security. Help #StopTheViolence.

GoCoin

Blockchain currencies (e.g. Bitcoin) provide a new disruptive way to transfer value between parties over the internet as opposed to going through banks. GoCoin provides online merchants with a suite…