Friday, January 6, 2012

Airlines Drag N.Y. Index Down as Qihoo Falls: China Overnight - Bloomberg


-0.430 (-2.406%) Intra-Day Chart for China Eastern Airlines Corp Ltd (CEA:US)
Bid 16.550
Ask 17.710
Open 17.430
High 17.610
Low 17.090
Volume N.A.
52-Week Range 26.82 - 13.25
1-Yr Return -33.864%

Chinese equities (CH55BN) traded in the U.S. fell for the first day in four, led by airlines, on concern a lingering European debt crisis will dim the outlook for the world’s second-largest economy. The Bloomberg China-US 55 Index (CH55BN) of the most-traded Chinese stocks slid 1 percent to 97.95 at 12:53 p.m. New York time, retreating from a three-week high reached a day earlier. Airlines declined after a trade group said Chinese carriers won’t comply with the European Union’s carbon-emissions trading plan. China Eastern Airlines Corp. (CEA) slumped as much as 3.7 percent, cutting a premium over its Hong Kong-traded shares to 0.3 percent. Software developer Qihoo 360 Technology Co Ltd (QIHU). led a decline in technology companies. Chinese Premier Wen Jiabao said Jan. 3 business conditions may be “relatively difficult” this quarter as inflation stays “elevated” and overseas demand weakens. The country’s home prices fell for a fourth month in December after the government pledged to maintain property industry curbs. Luxembourg Prime Minister Jean-Claude Juncker said yesterday the European Union is facing a recession of unknown scope.

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