HK Stock Market Move | Aviation stocks collectively rebound, with fuel prices following geopolitical tensions at high levels. Iranian President signals ceasefire.
Collective rebound in aviation stocks, as of press time, Air China (00753) up 5.25% at HK$4.81; China Eastern Airlines (00670) up 5.44% at HK$3.68; China Southern Airlines (01055) up 4.87% at HK$4.09; Cathay Pacific Airways (00293) up 4.72% at HK$11.75.
Aviation stocks collectively rebounded, as of press time, Air China Limited (00753) rose 5.25%, to 4.81 Hong Kong dollars; China Eastern Airlines (00670) rose 5.44%, to 3.68 Hong Kong dollars; China Southern Airlines (01055) rose 4.87%, to 4.09 Hong Kong dollars; CATHAY PAC AIR (00293) rose 4.72%, to 11.75 Hong Kong dollars.
On the news front, according to Iranian media reports, Iranian President Pezeshkian stated on March 31 that Iran is prepared to end its current retaliatory actions against the United States if it can obtain solid guarantees that it will not be attacked in the future. CITIC Securities Futures stated that the geopolitical situation remains the core driver of current oil prices, with oil futures following the high volatility of the geopolitical situation.
CMSC pointed out that with the deterioration of the situation in the Middle East and the blockade of the Strait of Hormuz, oil prices have risen rapidly in the recent period, causing a significant impact on aviation stocks. If the situation in the Middle East improves in the future, the unfavorable sentiment that suppresses aviation stocks and pushes up oil prices is expected to ease. However, it is necessary to be cautious about the short-term rapid rise in oil prices and the erosion of profits from maintaining high absolute levels in the medium term. It is expected that jet fuel surcharges will increase significantly in April, and it is recommended to pay attention to the actual ticket price performance and the ability to cover fuel costs.
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