HK Stock Market Move | CHINA EAST AIR (00670) rises more than 4% in the afternoon, the company has repurchased over 300 million Hong Kong dollars worth of H shares, and the peak season for airlines is expected to unleash performance elasticity.
China Eastern Airlines' stock (00670) surged more than 4% in the afternoon and, as of the time of writing, it had increased by 4.29% to 2.92 Hong Kong dollars, with a transaction amount of 37.1065 million Hong Kong dollars.
CHINA EAST AIR (00670) rose more than 4% in the afternoon, closing at 4.29% higher at HK$2.92, with a turnover of HK$37.1065 million.
On the news front, CHINA EAST AIR announced that as of July 31, they have repurchased a total of 89.5539 million A shares, accounting for approximately 0.4017% of the total share capital of the company, with a total amount of approximately RMB 337 million; and repurchased a total of 114 million H shares, accounting for approximately 0.5114% of the total share capital of the company, with a total amount of approximately HK$311 million.
Shenwan Hongyuan Group pointed out that in June, with the weakening of the holiday effect, the aviation market continued to recover, with capacity and traffic steadily increasing, and regional structural differentiation gradually becoming apparent. The summer travel season has begun, with demand expected to accelerate, coupled with seasonal ticket price increases, airline performance elasticity is expected to be released. Guotai Haitong also stated that in the short term, anti-price undercutting will be reduced; in the medium term, it is expected to help improve airline revenue management; and in the long term, it will ensure that fleet planning continues to grow slowly. Short-term demand fluctuations do not change the long-term logic of aviation, the release of risks in the peak season, and the crackdown on anti-price undercutting are worth looking forward to.
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