HK Stock Market Move | During the afternoon, aviation stocks fell further as international oil prices quickly rose. High oil prices are expected to remain high, which could erode airline profits.
In the afternoon, aviation stocks fell further. As of the time of writing, Air China (00753) fell 3.93% to 4.65 Hong Kong dollars; China Eastern Airlines (00670) fell 3.27% to 3.85 Hong Kong dollars; and China Southern Airlines (01055) fell 2.95% to 3.95 Hong Kong dollars.
In the afternoon, the aviation stocks fell further, as of the writing, Air China Limited (00753) fell by 3.93% to 4.65 Hong Kong dollars; China Eastern Airlines (00670) fell by 3.27% to 3.85 Hong Kong dollars; China Southern Airlines (01055) fell by 2.95% to 3.95 Hong Kong dollars.
On the news front, efforts to restart Iran nuclear talks have stalled, with passage through the Strait of Hormuz nearly stagnant, causing ongoing supply disruptions in global markets. On Tuesday, international oil prices rose rapidly, with WTI crude futures up over 2% to 98.52 US dollars per barrel. Brent crude rose over 2% to 104.07 US dollars per barrel.
CMSC released a research report stating that domestic flight volumes have declined year-on-year due to fuel cost pressures, with overall pricing on domestic routes falling. The report pointed out that the blockade of the Strait of Hormuz and sharp increases in aviation fuel prices have had a significant impact on aviation stocks. If the situation in the Middle East improves in the future, the negative sentiment suppressing aviation stocks and boosting oil prices may be alleviated; this week's US-Iran negotiations and the fluctuating situation in the strait still require vigilance against fluctuations in oil prices due to geopolitical factors and the erosion of profits from maintaining high levels in the medium term.
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