Fear pulls down airline shares
By Wang Ying | 皇冠体育app Daily | Updated: 2009-04-29 07:44
SHANGHAI: The outbreak of swine flu has led to a sharp decline in the share prices of domestic carriers, but is not likely to deal a major blow to the airlines' domestic business, experts said yesterday.
The pandemic has hit listed airlines hard. Air 皇冠体育app dropped 2.71 percent to 6.1 yuan apiece, 皇冠体育app Eastern pared its daily limit 5 percent to 4.55 yuan, 皇冠体育app Southern tumbled 6.18 percent to 5.31 yuan, Hainan Airlines sank 3.93 percent to 5.13 yuan, and Shanghai Airlines plunged 4.77 percent to 4.59 yuan, nearly to its daily limit.
Fears over the virus are growing, and investors are starting to buy drug makers and sell airlines' shares.
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