I can’t find any news that explains why shares of China Southern Airlines (ZNH) are up 12% today. The entire Chinese market is higher on positive news on the U.S.-China trade talks, but that’s been good for gains like 0.56% on JD.Com (JD) and 0.85% on CTRP International.com (CTRP) not 12%.
China Southern did announce delivery today of the first of five Boeing 787-9 Dreamliner aircraft scheduled to deliver to China Southern Airlines through 2020 from Air Lease. But that seems a thin reed for a 12% jump.On March 29 the company, Asia’s largest airline, reported earnings that showed net profit down 49.6% in 2018. Today’s bounce could be a recovery from that news.
More digging ahead.China Southern Airlines is a member of my long-term 50 Stocks Portfolio. The position is down 2.94% since I added it to the portfolio on April 30, 2018.
